Bryce Point Capital LLC Invests $473,000 in CONMED Co. (NYSE:CNMD)

Bryce Point Capital LLC acquired a new stake in CONMED Co. (NYSE:CNMD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,912 shares of the company’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNMD. GAMMA Investing LLC lifted its stake in shares of CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares during the last quarter. Pacer Advisors Inc. lifted its position in CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after acquiring an additional 485 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after acquiring an additional 322 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of CONMED in the fourth quarter valued at about $210,000. Finally, Blue Trust Inc. increased its stake in shares of CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after purchasing an additional 145 shares during the period.

Wall Street Analysts Forecast Growth

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

CONMED Stock Down 2.9 %

CNMD opened at $56.23 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The firm’s fifty day moving average price is $62.73 and its two-hundred day moving average price is $67.51. CONMED Co. has a fifty-two week low of $54.97 and a fifty-two week high of $80.65.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. On average, analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. 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.