Keybank National Association OH cut its stake in CONMED Co. (NASDAQ:CNMD) by 11.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,494 shares of the medical technology company’s stock after selling 5,697 shares during the period. Keybank National Association OH owned approximately 0.16% of CONMED worth $2,020,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of CONMED by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock valued at $121,000 after buying an additional 50 shares in the last quarter. Karp Capital Management Corp acquired a new stake in CONMED during the first quarter worth about $202,000. Municipal Employees Retirement System of Michigan raised its stake in CONMED by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,730 shares of the medical technology company’s stock worth $230,000 after buying an additional 100 shares during the period. Bayesian Capital Management LP acquired a new stake in CONMED during the fourth quarter worth about $274,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in CONMED during the fourth quarter worth about $275,000.
CONMED Co. (NASDAQ:CNMD) remained flat at $49.72 during midday trading on Friday. The company had a trading volume of 135,400 shares. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 113.26 and a beta of 0.77. CONMED Co. has a one year low of $37.60 and a one year high of $51.50. The firm’s 50 day moving average price is $47.94 and its 200 day moving average price is $44.52.
CONMED (NASDAQ:CNMD) last posted its earnings results on Wednesday, April 26th. The medical technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. CONMED had a net margin of 1.92% and a return on equity of 8.38%. The business had revenue of $186.57 million for the quarter, compared to analysts’ expectations of $181.47 million. During the same period in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts anticipate that CONMED Co. will post $1.87 earnings per share for the current fiscal year.
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CNMD has been the topic of a number of research reports. Needham & Company LLC increased their target price on shares of CONMED from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of CONMED from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Finally, Ladenburg Thalmann Financial Services lowered shares of CONMED from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $48.00 in a report on Thursday, April 27th.
In related news, CEO Curt R. Hartman purchased 8,030 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were purchased at an average cost of $40.11 per share, with a total value of $322,083.30. Following the completion of the acquisition, the chief executive officer now directly owns 36,470 shares of the company’s stock, valued at approximately $1,462,811.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Jonas sold 3,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $51.22, for a total transaction of $153,660.00. Following the completion of the sale, the executive vice president now directly owns 14,455 shares in the company, valued at $740,385.10. The disclosure for this sale can be found here. Over the last three months, insiders have bought 13,650 shares of company stock worth $553,427. Corporate insiders own 1.91% of the company’s stock.
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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