Penn Capital Management Company LLC lowered its position in shares of CONMED Co. (NYSE:CNMD – Get Rating) by 75.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,084 shares of the company’s stock after selling 66,804 shares during the period. Penn Capital Management Company LLC owned approximately 0.07% of CONMED worth $1,992,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System grew its stake in CONMED by 8.7% during the 3rd quarter. California Public Employees Retirement System now owns 65,582 shares of the company’s stock valued at $5,258,000 after purchasing an additional 5,269 shares in the last quarter. Amalgamated Bank increased its position in shares of CONMED by 5.3% in the 3rd quarter. Amalgamated Bank now owns 14,773 shares of the company’s stock worth $1,184,000 after purchasing an additional 747 shares during the last quarter. UBS Group AG increased its holdings in CONMED by 376.1% in the third quarter. UBS Group AG now owns 46,606 shares of the company’s stock valued at $3,736,000 after buying an additional 36,816 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of CONMED by 56.2% during the third quarter. Tower Research Capital LLC TRC now owns 7,194 shares of the company’s stock worth $576,000 after purchasing an additional 2,587 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of CONMED in the 3rd quarter valued at about $219,000.
Insider Transactions at CONMED
In other news, CFO Todd W. Garner sold 30,000 shares of CONMED stock in a transaction on Monday, March 13th. The stock was sold at an average price of $90.93, for a total transaction of $2,727,900.00. Following the transaction, the chief financial officer now owns 1,115 shares in the company, valued at $101,386.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CONMED news, VP Stanley W. Peters III sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $120.89, for a total value of $181,335.00. Following the completion of the sale, the vice president now directly owns 63 shares of the company’s stock, valued at $7,616.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Todd W. Garner sold 30,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $90.93, for a total transaction of $2,727,900.00. Following the transaction, the chief financial officer now owns 1,115 shares in the company, valued at approximately $101,386.95. The disclosure for this sale can be found here. Insiders have sold 77,543 shares of company stock valued at $8,761,613 over the last three months. Company insiders own 7.60% of the company’s stock.
CONMED Price Performance
CONMED (NYSE:CNMD – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. CONMED had a negative net margin of 8.53% and a positive return on equity of 11.38%. The business had revenue of $295.47 million for the quarter, compared to analyst estimates of $266.66 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts expect that CONMED Co. will post 3.41 EPS for the current year.
CONMED Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Thursday, June 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 0.60%. The ex-dividend date is Wednesday, June 14th. CONMED’s dividend payout ratio (DPR) is presently -24.62%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. CL King started coverage on CONMED in a report on Monday, May 22nd. They set a “buy” rating and a $140.00 target price for the company. Piper Sandler raised their target price on CONMED from $118.00 to $128.00 in a research note on Thursday, April 27th. Wells Fargo & Company upped their price target on shares of CONMED from $96.00 to $119.00 in a research report on Thursday, April 27th. Needham & Company LLC lifted their price objective on shares of CONMED from $122.00 to $135.00 in a research report on Thursday, April 27th. Finally, StockNews.com started coverage on shares of CONMED in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.40.
CONMED Company Profile
CONMED Corp. operates as a medical technology company, which engages in the development, manufacturing, and sale of surgical devices and related equipment. It operates through the United States, Europe, Middle East, and Africa, and Asia Pacific geographical segments. Its products are used by surgeons and physicians in a variety of medical specialties, including orthopedic surgery, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.
Featured Articles
- Get a free copy of the StockNews.com research report on CONMED (CNMD)
- FuelCell Is Back To Realistic Valuation
- MarketBeat Week in Review – 6/4 – 6/9
- Cactus Opens The Cash Flow Wellhead With Flexsteel Acquisition
- Tax Software Specialist Vertex In Buy Zone After Base Breakout
- What is a Mutual Fund? How Does it Work?
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.
