Jackson Creek Investment Advisors LLC Buys Shares of 9,174 CONMED Co. (NYSE:CNMD)

Jackson Creek Investment Advisors LLC purchased a new position in shares of CONMED Co. (NYSE:CNMD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,174 shares of the company’s stock, valued at approximately $1,005,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNMD. Eagle Asset Management Inc. raised its position in CONMED by 67.3% during the third quarter. Eagle Asset Management Inc. now owns 198,982 shares of the company’s stock worth $20,067,000 after acquiring an additional 80,036 shares in the last quarter. Sectoral Asset Management Inc. boosted its stake in shares of CONMED by 150.5% during the 3rd quarter. Sectoral Asset Management Inc. now owns 114,000 shares of the company’s stock worth $11,497,000 after acquiring an additional 68,500 shares during the period. Congress Asset Management Co. MA raised its stake in CONMED by 32.3% in the 3rd quarter. Congress Asset Management Co. MA now owns 278,187 shares of the company’s stock valued at $28,055,000 after acquiring an additional 67,866 shares during the period. Qube Research & Technologies Ltd bought a new position in CONMED during the third quarter worth $6,696,000. Finally, Tudor Investment Corp Et Al increased its holdings in shares of CONMED by 398.0% in the third quarter. Tudor Investment Corp Et Al now owns 78,426 shares of the company’s stock valued at $7,909,000 after purchasing an additional 62,677 shares during the last quarter.

Wall Street Analyst Weigh In

CNMD has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Piper Sandler reduced their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their price objective on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Wells Fargo & Company reduced their target price on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.86.

CONMED Price Performance

CNMD traded up $0.76 on Tuesday, hitting $67.98. 578,678 shares of the stock were exchanged, compared to its average volume of 592,731. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $138.47. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 0.63 and a beta of 1.33. The business has a 50-day moving average of $77.78 and a two-hundred day moving average of $93.19.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 EPS 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 13.78%. The business had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. Sell-side analysts forecast that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. CONMED’s dividend payout ratio (DPR) is currently 30.65%.

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.