Legato Capital Management LLC Has $1.88 Million Stock Position in CONMED Co. (NYSE:CNMD)

Legato Capital Management LLC increased its stake in CONMED Co. (NYSE:CNMD) by 41.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,400 shares of the company’s stock after buying an additional 7,997 shares during the period. Legato Capital Management LLC’s holdings in CONMED were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNMD. Confluence Investment Management LLC lifted its stake in CONMED by 188.9% in the third quarter. Confluence Investment Management LLC now owns 146,942 shares of the company’s stock valued at $10,568,000 after buying an additional 96,081 shares during the period. Champlain Investment Partners LLC lifted its stake in CONMED by 6.4% in the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after buying an additional 81,970 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in CONMED by 44.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock valued at $15,029,000 after buying an additional 68,696 shares during the period. Raymond James & Associates lifted its stake in CONMED by 70.5% in the third quarter. Raymond James & Associates now owns 141,907 shares of the company’s stock valued at $10,206,000 after buying an additional 58,663 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in CONMED in the third quarter valued at approximately $3,200,000.

Analysts Set New Price Targets

Several brokerages have issued reports on CNMD. Stifel Nicolaus boosted their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lowered their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Needham & Company LLC lowered their target price on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, CONMED has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Trading Down 3.4 %

Shares of CONMED stock opened at $65.04 on Wednesday. The stock has a fifty day simple moving average of $70.01 and a 200 day simple moving average of $70.07. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $88.60. The company has a market capitalization of $2.01 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. On average, sell-side analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

CONMED Profile

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.