CONMED Co. (NYSE:CNMD) Shares Sold by Nisa Investment Advisors LLC

Posted by Defense World Staff on Jul 29th, 2023

Nisa Investment Advisors LLC reduced its holdings in CONMED Co. (NYSE:CNMD – Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,114 shares of the company’s stock after selling 361 shares during the period. Nisa Investment Advisors LLC’s holdings in CONMED were worth $1,154,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of CONMED by 0.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 272,463 shares of the company’s stock worth $21,844,000 after acquiring an additional 1,915 shares during the last quarter. Vanguard Group Inc. lifted its position in CONMED by 4.0% during the third quarter. Vanguard Group Inc. now owns 3,338,586 shares of the company’s stock worth $267,654,000 after buying an additional 127,857 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in CONMED by 10.6% during the third quarter. Thrivent Financial for Lutherans now owns 32,085 shares of the company’s stock worth $2,572,000 after buying an additional 3,076 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in CONMED by 13.7% during the third quarter. Public Employees Retirement System of Ohio now owns 42,012 shares of the company’s stock worth $3,368,000 after buying an additional 5,058 shares in the last quarter. Finally, State Street Corp lifted its position in CONMED by 2.9% during the third quarter. State Street Corp now owns 1,077,498 shares of the company’s stock worth $86,594,000 after buying an additional 30,369 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on CONMED from $118.00 to $130.00 in a research report on Thursday, April 27th. CL King began coverage on CONMED in a report on Monday, May 22nd. They issued a “buy” rating and a $140.00 price objective on the stock. Piper Sandler boosted their target price on CONMED from $128.00 to $145.00 in a research note on Thursday. KeyCorp upped their price objective on CONMED from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $139.00 price objective on shares of CONMED in a research report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.67.

Insider Buying and Selling

In related news, VP Stanley W. Peters III sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $120.89, for a total value of $181,335.00. Following the sale, the vice president now owns 63 shares in the company, valued at approximately $7,616.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Stanley W. Peters III sold 5,000 shares of CONMED stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $131.14, for a total value of $655,700.00. Following the transaction, the vice president now owns 63 shares in the company, valued at $8,261.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stanley W. Peters III sold 1,500 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $120.89, for a total value of $181,335.00. Following the transaction, the vice president now owns 63 shares in the company, valued at approximately $7,616.07. The disclosure for this sale can be found here. Insiders have sold a total of 12,084 shares of company stock worth $1,560,868 in the last quarter. Company insiders own 7.60% of the company’s stock.

CONMED Stock Up 0.4 %

CNMD opened at $118.65 on Friday. The company has a market cap of $3.63 billion, a PE ratio of 41.93, a P/E/G ratio of 1.30 and a beta of 1.39. The business has a 50 day moving average price of $128.82 and a two-hundred day moving average price of $116.43. CONMED Co. has a 52 week low of $71.09 and a 52 week high of $138.47. The company has a quick ratio of 0.86, a current ratio of 1.90 and a debt-to-equity ratio of 1.32.

CONMED (NYSE:CNMD – Get Free Report) last issued its earnings results on Wednesday, July 26th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $317.70 million during the quarter, compared to the consensus estimate of $306.15 million. CONMED had a return on equity of 11.30% and a net margin of 7.75%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. As a group, research analysts anticipate that CONMED Co. will post 3.41 EPS for the current year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Wednesday, June 14th. CONMED’s dividend payout ratio is currently 28.27%.

About CONMED

(Free Report)

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.