Westwood Holdings Group Inc. lifted its holdings in CONMED Co. (NASDAQ:CNMD) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,745 shares of the medical technology company’s stock after purchasing an additional 21,800 shares during the quarter. Westwood Holdings Group Inc. owned about 1.32% of CONMED worth $18,795,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in CONMED by 3.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock worth $103,000 after acquiring an additional 64 shares during the period. American International Group Inc. lifted its position in CONMED by 6.0% during the 3rd quarter. American International Group Inc. now owns 21,427 shares of the medical technology company’s stock worth $1,124,000 after acquiring an additional 1,208 shares during the period. Legal & General Group Plc lifted its position in CONMED by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 51,844 shares of the medical technology company’s stock worth $2,721,000 after acquiring an additional 2,155 shares during the period. Geode Capital Management LLC lifted its position in CONMED by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 231,425 shares of the medical technology company’s stock worth $11,795,000 after acquiring an additional 2,206 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in CONMED during the 3rd quarter worth about $133,000. 99.57% of the stock is owned by hedge funds and other institutional investors.
Shares of CONMED stock traded down $0.16 during trading on Monday, hitting $64.22. The company had a trading volume of 5,695 shares, compared to its average volume of 184,975. The company has a current ratio of 2.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.75. CONMED Co. has a 1 year low of $40.54 and a 1 year high of $64.99. The stock has a market cap of $1,801.06, a price-to-earnings ratio of 33.88, a PEG ratio of 2.61 and a beta of 0.67.
CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $222.60 million during the quarter, compared to analyst estimates of $212.17 million. During the same quarter in the previous year, the business earned $0.54 EPS. CONMED’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts anticipate that CONMED Co. will post 2.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. CONMED’s dividend payout ratio is presently 40.61%.
In related news, CFO Luke A. Pomilio sold 18,023 shares of CONMED stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $63.38, for a total value of $1,142,297.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jo Ann Golden sold 3,000 shares of CONMED stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $63.90, for a total value of $191,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,473 shares of company stock valued at $2,874,693. 2.62% of the stock is owned by company insiders.
A number of analysts have commented on the company. Needham & Company LLC lifted their price target on CONMED from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. BidaskClub raised CONMED from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, January 9th. Finally, ValuEngine raised CONMED from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $59.00.
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CONMED Company Profile
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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