Bahl & Gaynor Inc. Has $1.69 Million Stock Position in CONMED Co. (NYSE:CNMD)

Bahl & Gaynor Inc. boosted its position in CONMED Co. (NYSE:CNMD) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,434 shares of the company’s stock after purchasing an additional 207 shares during the period. Bahl & Gaynor Inc.’s holdings in CONMED were worth $1,690,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in CONMED during the fourth quarter worth approximately $40,000. Headlands Technologies LLC bought a new position in shares of CONMED during the third quarter worth approximately $64,000. Xponance Inc. bought a new position in shares of CONMED during the fourth quarter worth approximately $204,000. Olympiad Research LP bought a new position in shares of CONMED during the third quarter worth approximately $230,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of CONMED by 15.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,295 shares of the company’s stock worth $231,000 after purchasing an additional 308 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNMD. Needham & Company LLC decreased their price objective on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler decreased their price objective on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and an average target price of $107.86.

CONMED Stock Performance

Shares of CONMED stock opened at $65.78 on Friday. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $138.47. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96. The firm has a market capitalization of $2.03 billion, a P/E ratio of 25.21, a P/E/G ratio of 0.57 and a beta of 1.33. The company’s 50 day moving average price is $78.06 and its two-hundred day moving average price is $93.44.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.99%. The firm had revenue of $312.27 million for the quarter, compared to analyst estimates of $307.06 million. On average, equities analysts forecast that CONMED Co. will post 4.31 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given 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 yield of 1.22%. CONMED’s dividend payout ratio 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.