M&T Bank Corp Acquires 2,956 Shares of CONMED Co. (NYSE:CNMD)

M&T Bank Corp raised its stake in shares of CONMED Co. (NYSE:CNMD) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,070 shares of the company’s stock after buying an additional 2,956 shares during the period. M&T Bank Corp’s holdings in CONMED were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Intech Investment Management LLC increased its holdings in shares of CONMED by 177.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after acquiring an additional 10,187 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in CONMED during the third quarter worth approximately $1,665,000. Fifth Third Bancorp grew its holdings in CONMED by 44.9% during the second quarter. Fifth Third Bancorp now owns 26,163 shares of the company’s stock valued at $1,814,000 after purchasing an additional 8,112 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in CONMED during the second quarter valued at approximately $721,000. Finally, Natixis Advisors LLC raised its position in shares of CONMED by 74.8% in the second quarter. Natixis Advisors LLC now owns 81,189 shares of the company’s stock valued at $5,628,000 after purchasing an additional 34,744 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, CONMED has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED Trading Down 0.2 %

Shares of CNMD stock opened at $72.55 on Monday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $117.27. The firm’s fifty day simple moving average is $69.90 and its 200 day simple moving average is $70.45. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, sell-side analysts predict that CONMED Co. will post 4.03 EPS for the current year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.10%. CONMED’s dividend payout ratio (DPR) is 19.00%.

CONMED Company 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.