CONMED Co. (NYSE:CNMD) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. trimmed its holdings in shares of CONMED Co. (NYSE:CNMD) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,143 shares of the company’s stock after selling 549 shares during the quarter. Tealwood Asset Management Inc. owned 0.05% of CONMED worth $975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in CONMED in the 4th quarter valued at about $82,000. Smartleaf Asset Management LLC grew its position in CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after acquiring an additional 322 shares in the last quarter. CIBC Asset Management Inc acquired a new position in CONMED in the 4th quarter valued at about $210,000. Summit Investment Advisors Inc. grew its position in CONMED by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock valued at $221,000 after acquiring an additional 205 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of CONMED in the 4th quarter valued at about $222,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNMD. Stifel Nicolaus lowered shares of CONMED from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Wells Fargo & Company cut their target price on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC cut their target price on shares of CONMED from $91.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.20.

CONMED Price Performance

Shares of NYSE CNMD opened at $56.94 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. CONMED Co. has a twelve month low of $46.00 and a twelve month high of $78.19. The stock has a 50 day moving average of $54.95 and a two-hundred day moving average of $62.83. The stock has a market cap of $1.76 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.83 and a beta of 1.19.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company had revenue of $321.26 million during the quarter, compared to analysts’ expectations of $313.38 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts forecast that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, June 13th. CONMED’s dividend payout ratio is currently 21.05%.

Insider Buying and Selling at CONMED

In other news, Director Charles Farkas sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $56.94, for a total value of $227,760.00. Following the transaction, the director now owns 16,346 shares of the company’s stock, valued at approximately $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.

CONMED Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.