Rhumbline Advisers grew its position in CONMED Co. (NASDAQ:CNMD) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,858 shares of the medical technology company’s stock after purchasing an additional 6,193 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of CONMED worth $3,663,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in CNMD. Macquarie Group Ltd. raised its holdings in shares of CONMED by 13.9% in the 3rd quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after purchasing an additional 89,078 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of CONMED in the 4th quarter valued at $3,169,000. Prudential Financial Inc. raised its holdings in shares of CONMED by 65.8% in the 3rd quarter. Prudential Financial Inc. now owns 118,365 shares of the medical technology company’s stock valued at $6,211,000 after purchasing an additional 46,956 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of CONMED by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,225,574 shares of the medical technology company’s stock valued at $113,438,000 after purchasing an additional 44,988 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of CONMED by 223.8% in the 4th quarter. Arizona State Retirement System now owns 41,784 shares of the medical technology company’s stock valued at $2,130,000 after purchasing an additional 28,881 shares in the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.
In other CONMED news, CFO Luke A. Pomilio sold 18,023 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $63.38, for a total transaction of $1,142,297.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $63.90, for a total transaction of $191,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,473 shares of company stock worth $2,874,693 over the last three months. 2.62% of the stock is currently owned by insiders.
CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Wednesday, January 31st. The medical technology company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. CONMED had a net margin of 6.97% and a return on equity of 8.96%. The firm had revenue of $222.60 million for the quarter, compared to analyst estimates of $212.17 million. During the same period last year, the business earned $0.54 EPS. CONMED’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts predict that CONMED Co. will post 2.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, March 14th. CONMED’s payout ratio is currently 40.61%.
Several equities research analysts recently commented on the stock. Needham & Company LLC lifted their price target on shares of CONMED from $58.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, January 9th. BidaskClub lowered shares of CONMED from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. Finally, ValuEngine upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $59.00.
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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