CONMED Co. (NYSE:CNMD) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of CONMED Co. (NYSE:CNMD) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,905 shares of the company’s stock after purchasing an additional 3,732 shares during the period. Rhumbline Advisers owned approximately 0.32% of CONMED worth $10,065,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Citizens Financial Group Inc RI grew its holdings in CONMED by 7.6% during the first quarter. Citizens Financial Group Inc RI now owns 3,601 shares of the company’s stock worth $375,000 after acquiring an additional 254 shares during the period. Credit Suisse AG grew its holdings in CONMED by 2.2% during the first quarter. Credit Suisse AG now owns 126,651 shares of the company’s stock worth $13,154,000 after acquiring an additional 2,682 shares during the period. Pictet Asset Management SA grew its holdings in CONMED by 15.4% during the first quarter. Pictet Asset Management SA now owns 3,778 shares of the company’s stock worth $392,000 after acquiring an additional 504 shares during the period. Great Lakes Advisors LLC acquired a new position in CONMED during the first quarter worth about $19,382,000. Finally, Principal Financial Group Inc. grew its holdings in CONMED by 11.7% during the first quarter. Principal Financial Group Inc. now owns 797,151 shares of the company’s stock worth $82,791,000 after acquiring an additional 83,224 shares during the period.

CONMED Trading Down 0.9 %

NYSE:CNMD opened at $110.48 on Monday. CONMED Co. has a 1-year low of $71.09 and a 1-year high of $138.47. The business’s 50-day moving average price is $120.94 and its two-hundred day moving average price is $119.60. The company has a current ratio of 1.74, a quick ratio of 0.82 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 1.11 and a beta of 1.38.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 26th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. CONMED had a return on equity of 11.14% and a net margin of 7.75%. The firm had revenue of $317.70 million for the quarter, compared to analyst estimates of $306.15 million. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. On average, equities analysts expect that CONMED Co. will post 3.48 earnings per share for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, September 14th. CONMED’s dividend payout ratio is currently 28.27%.

Insider Transactions at CONMED

In other CONMED news, CFO Todd W. Garner sold 1,355 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $112.00, for a total value of $151,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Todd W. Garner sold 1,355 shares of CONMED stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $112.00, for a total transaction of $151,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Curt R. Hartman sold 1,000 shares of CONMED stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $136.00, for a total value of $136,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,299 shares of the company’s stock, valued at $584,664. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,272,293 over the last 90 days. 7.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CNMD has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $139.00 price target on shares of CONMED in a research note on Monday, July 24th. StockNews.com began coverage on CONMED in a research report on Wednesday, August 23rd. They set a “hold” rating for the company. CL King began coverage on CONMED in a report on Monday, May 22nd. They set a “buy” rating and a $140.00 price target for the company. Piper Sandler raised their price objective on CONMED from $128.00 to $145.00 in a research note on Thursday, July 27th. Finally, KeyCorp lifted their price target on CONMED from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.67.

CONMED Company Profile

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 Agro 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.