Great West Life Assurance Co. Can raised its stake in CONMED Co. (NASDAQ:CNMD) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,029 shares of the medical technology company’s stock after buying an additional 2,965 shares during the quarter. Great West Life Assurance Co. Can owned about 0.12% of CONMED worth $2,075,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of CONMED by 5.9% during the fourth quarter. BlackRock Inc. now owns 4,271,666 shares of the medical technology company’s stock worth $274,240,000 after acquiring an additional 237,898 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CONMED by 6.1% during the third quarter. Vanguard Group Inc. now owns 2,666,773 shares of the medical technology company’s stock worth $211,262,000 after purchasing an additional 153,396 shares during the period. Vanguard Group Inc lifted its holdings in shares of CONMED by 6.1% during the third quarter. Vanguard Group Inc now owns 2,666,773 shares of the medical technology company’s stock worth $211,262,000 after purchasing an additional 153,396 shares during the period. Capital Research Global Investors lifted its holdings in shares of CONMED by 7.2% during the third quarter. Capital Research Global Investors now owns 1,719,000 shares of the medical technology company’s stock worth $136,179,000 after purchasing an additional 115,394 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of CONMED by 1.4% during the third quarter. Macquarie Group Ltd. now owns 790,740 shares of the medical technology company’s stock worth $62,643,000 after purchasing an additional 11,300 shares during the period. 96.69% of the stock is currently owned by institutional investors.
CONMED stock traded up $0.26 during midday trading on Monday, reaching $83.44. 111,779 shares of the company were exchanged, compared to its average volume of 251,955. The stock has a market cap of $2.34 billion, a PE ratio of 38.28, a P/E/G ratio of 2.96 and a beta of 0.67. CONMED Co. has a 1 year low of $56.90 and a 1 year high of $84.26. The company has a current ratio of 2.33, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Tuesday, January 22nd. The medical technology company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $228.40 million. CONMED had a return on equity of 9.65% and a net margin of 4.75%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts predict that CONMED Co. will post 2.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio is presently 36.70%.
CNMD has been the subject of several recent research reports. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Monday. BidaskClub raised CONMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC increased their price target on CONMED to $87.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Barclays increased their price target on CONMED from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $88.25.
In other CONMED news, Director Dirk Kuyper sold 2,000 shares of CONMED stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.39, for a total value of $166,780.00. Following the completion of the sale, the director now owns 13,906 shares in the company, valued at approximately $1,159,621.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter K. Shagory sold 4,000 shares of CONMED stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $69.29, for a total value of $277,160.00. Following the completion of the sale, the executive vice president now owns 5,155 shares of the company’s stock, valued at approximately $357,189.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,000 shares of company stock valued at $677,250. 3.13% of the stock is currently owned by company insiders.
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CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
See Also: Systematic Risk
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