CONMED Co. (NYSE:CNMD) Short Interest Update

CONMED Co. (NYSE:CNMD) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,800,000 shares, a growth of 21.7% from the February 28th total of 2,300,000 shares. Based on an average daily volume of 494,100 shares, the days-to-cover ratio is currently 5.7 days. Currently, 9.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

CNMD has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC lowered their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Wells Fargo & Company cut their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

Institutional Investors Weigh In On CONMED

Several hedge funds have recently bought and sold shares of CNMD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CONMED by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,121 shares of the company’s stock worth $5,347,000 after acquiring an additional 11,059 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of CONMED in the fourth quarter worth $849,000. Silvercrest Asset Management Group LLC bought a new position in shares of CONMED during the fourth quarter valued at $68,489,000. ProShare Advisors LLC boosted its position in shares of CONMED by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 9,300 shares of the company’s stock valued at $636,000 after buying an additional 2,865 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of CONMED during the fourth quarter valued at $222,000.

CONMED Trading Down 1.8 %

Shares of NYSE:CNMD traded down $1.06 on Thursday, reaching $59.37. 189,068 shares of the company traded hands, compared to its average volume of 452,924. The stock has a market capitalization of $1.84 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The business’s 50-day simple moving average is $63.20 and its 200 day simple moving average is $67.71. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. CONMED has a 52 week low of $55.22 and a 52 week high of $80.65.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, equities analysts anticipate that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

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.