CONMED Co. (NYSE:CNMD) Shares Purchased by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. boosted its holdings in CONMED Co. (NYSE:CNMD) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,434 shares of the company’s stock after buying an additional 207 shares during the quarter. Bahl & Gaynor Inc. owned 0.05% of CONMED worth $1,690,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CNMD. Mountain Pacific Investment Advisers Inc. ID grew its position in CONMED by 8.7% in the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 144,376 shares of the company’s stock worth $14,560,000 after buying an additional 11,538 shares during the last quarter. AMI Asset Management Corp raised its stake in CONMED by 13.2% during the 3rd quarter. AMI Asset Management Corp now owns 43,725 shares of the company’s stock valued at $4,410,000 after purchasing an additional 5,085 shares during the period. Raymond James & Associates raised its stake in CONMED by 2.6% during the 3rd quarter. Raymond James & Associates now owns 82,959 shares of the company’s stock valued at $8,366,000 after purchasing an additional 2,131 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in CONMED by 4.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock valued at $312,000 after purchasing an additional 140 shares during the period. Finally, Advisor Partners II LLC raised its stake in CONMED by 93.8% during the 3rd quarter. Advisor Partners II LLC now owns 2,932 shares of the company’s stock valued at $296,000 after purchasing an additional 1,419 shares during the period.

CONMED Stock Up 6.3 %

CNMD stock opened at $65.78 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $138.47. The company has a 50-day moving average of $78.06 and a two-hundred day moving average of $93.44. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.99%. The business had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. As a group, equities research analysts anticipate that CONMED Co. will post 4.31 EPS for the current year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s payout ratio is presently 30.65%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC cut their target price on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler dropped their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.86.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.