Bank of New York Mellon Corp lessened its stake in CONMED Corporation (NASDAQ:CNMD) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 414,675 shares of the medical technology company’s stock after selling 4,861 shares during the period. Bank of New York Mellon Corp owned approximately 1.49% of CONMED Corporation worth $21,124,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in CONMED Corporation in the 2nd quarter worth approximately $111,000. Schwab Charles Investment Management Inc. grew its position in CONMED Corporation by 2.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 167,338 shares of the medical technology company’s stock worth $8,525,000 after purchasing an additional 4,152 shares during the period. Texas Permanent School Fund grew its position in CONMED Corporation by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock worth $923,000 after purchasing an additional 173 shares during the period. Bessemer Group Inc. grew its position in CONMED Corporation by 8,448.3% in the 2nd quarter. Bessemer Group Inc. now owns 34,706 shares of the medical technology company’s stock worth $1,768,000 after purchasing an additional 34,300 shares during the period. Finally, Rothschild Asset Management Inc. grew its position in CONMED Corporation by 0.3% in the 2nd quarter. Rothschild Asset Management Inc. now owns 35,232 shares of the medical technology company’s stock worth $1,795,000 after purchasing an additional 107 shares during the period. 98.86% of the stock is owned by institutional investors and hedge funds.

In related news, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 19,782 shares of the company’s stock, valued at $989,100. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.62% of the company’s stock.

Shares of CONMED Corporation (NASDAQ:CNMD) opened at 51.83 on Friday. The company has a market cap of $1.45 billion, a P/E ratio of 92.72 and a beta of 0.68. CONMED Corporation has a 12 month low of $37.60 and a 12 month high of $52.82. The stock’s 50 day moving average is $49.69 and its 200-day moving average is $48.39.

CONMED Corporation (NASDAQ:CNMD) last issued its earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The firm had revenue of $197.20 million during the quarter, compared to analysts’ expectations of $194.50 million. During the same quarter last year, the company posted $0.47 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that CONMED Corporation will post $1.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. CONMED Corporation’s dividend payout ratio (DPR) is presently 142.86%.

A number of equities research analysts have commented on CNMD shares. BidaskClub downgraded shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 20th. Zacks Investment Research downgraded shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of CONMED Corporation in a research report on Friday, September 1st. KeyCorp reaffirmed a “hold” rating on shares of CONMED Corporation in a research report on Friday, August 25th. Finally, TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. CONMED Corporation has a consensus rating of “Hold” and a consensus price target of $49.33.

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CONMED Corporation 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.

Institutional Ownership by Quarter for CONMED Corporation (NASDAQ:CNMD)

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