CONMED Co. (NYSE:CNMD) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its stake in shares of CONMED Co. (NYSE:CNMDGet Rating) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,950 shares of the company’s stock after acquiring an additional 222 shares during the period. Park Avenue Securities LLC’s holdings in CONMED were worth $237,000 as of its most recent SEC filing.

Separately, Jennison Associates LLC increased its position in shares of CONMED by 1.0% during the third quarter. Jennison Associates LLC now owns 505,806 shares of the company’s stock valued at $40,550,000 after acquiring an additional 4,953 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Todd W. Garner sold 4,500 shares of CONMED stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $89.31, for a total value of $401,895.00. Following the completion of the transaction, the chief financial officer now owns 1 shares in the company, valued at $89.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is owned by insiders.

CONMED Stock Performance

NYSE CNMD opened at $98.97 on Tuesday. The company has a 50 day simple moving average of $89.15. The company has a current ratio of 2.75, a quick ratio of 1.29 and a debt-to-equity ratio of 1.45. CONMED Co. has a one year low of $71.09 and a one year high of $155.51. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -33.55, a price-to-earnings-growth ratio of 2.78 and a beta of 1.35.

CONMED (NYSE:CNMDGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. CONMED had a negative net margin of 7.74% and a positive return on equity of 14.00%. The business had revenue of $275.09 million during the quarter, compared to analyst estimates of $282.23 million. Equities analysts predict that CONMED Co. will post 3.15 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Friday, December 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.81%. CONMED’s dividend payout ratio is currently -27.12%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of CONMED from $90.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday, November 15th. TheStreet raised shares of CONMED from a “d+” rating to a “c-” rating in a research note on Friday, December 30th.

CONMED Company Profile

(Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

Further Reading

Want to see what other hedge funds are holding CNMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CONMED Co. (NYSE:CNMDGet Rating).

Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

Receive News & Ratings for CONMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.