Cramer Rosenthal Mcglynn LLC lowered its holdings in shares of CONMED Co. (NASDAQ:CNMD) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,769 shares of the medical technology company’s stock after selling 4,515 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 3.65% of CONMED worth $52,029,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in CONMED by 6.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,067,319 shares of the medical technology company’s stock valued at $54,401,000 after acquiring an additional 61,617 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in CONMED during the 4th quarter valued at $268,000. Deutsche Bank AG raised its stake in CONMED by 109.6% during the 4th quarter. Deutsche Bank AG now owns 72,534 shares of the medical technology company’s stock valued at $3,695,000 after acquiring an additional 37,931 shares in the last quarter. Jefferies Group LLC bought a new stake in CONMED during the 4th quarter valued at $200,000. Finally, Renaissance Technologies LLC raised its stake in CONMED by 68.1% during the 4th quarter. Renaissance Technologies LLC now owns 19,000 shares of the medical technology company’s stock valued at $968,000 after acquiring an additional 7,700 shares in the last quarter. 99.57% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on CNMD shares. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. BidaskClub downgraded CONMED from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of CONMED in a research note on Friday, November 17th. Finally, ValuEngine raised CONMED from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CONMED presently has an average rating of “Hold” and a consensus price target of $59.00.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Wednesday, January 31st. The medical technology company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. CONMED had a return on equity of 8.96% and a net margin of 6.97%. The company had revenue of $222.60 million for the quarter, compared to the consensus estimate of $212.17 million. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts forecast that CONMED Co. will post 2.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, March 14th. CONMED’s dividend payout ratio is presently 40.61%.
In other news, CFO Luke A. Pomilio sold 19,620 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $60.19, for a total transaction of $1,180,927.80. Following the sale, the chief financial officer now directly owns 600 shares of the company’s stock, valued at $36,114. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Terence M. Berge sold 3,868 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.45, for a total value of $241,556.60. Following the sale, the vice president now directly owns 19,908 shares in the company, valued at $1,243,254.60. The disclosure for this sale can be found here. Insiders sold a total of 46,473 shares of company stock worth $2,874,693 in the last three months. Company insiders own 2.62% of the company’s stock.
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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