California State Teachers Retirement System cut its stake in shares of CONMED Co. (NASDAQ:CNMD) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,938 shares of the medical technology company’s stock after selling 4,692 shares during the period. California State Teachers Retirement System’s holdings in CONMED were worth $2,305,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of CONMED by 1.1% during the second quarter. Vanguard Group Inc. now owns 2,294,366 shares of the medical technology company’s stock worth $116,875,000 after purchasing an additional 25,484 shares during the period. Victory Capital Management Inc. grew its stake in shares of CONMED by 5.4% during the third quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock worth $114,415,000 after purchasing an additional 111,096 shares during the period. Cramer Rosenthal Mcglynn LLC grew its stake in shares of CONMED by 7.6% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,067,844 shares of the medical technology company’s stock worth $54,396,000 after purchasing an additional 75,055 shares during the period. Macquarie Group Ltd. grew its stake in shares of CONMED by 13.9% during the third quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock worth $38,406,000 after purchasing an additional 89,078 shares during the period. Finally, State Street Corp grew its stake in shares of CONMED by 3.4% during the second quarter. State Street Corp now owns 701,058 shares of the medical technology company’s stock worth $35,715,000 after purchasing an additional 22,919 shares during the period. 99.02% of the stock is owned by institutional investors and hedge funds.

In other CONMED news, EVP Luke A. Pomilio sold 29,363 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $50.70, for a total value of $1,488,704.10. Following the completion of the transaction, the executive vice president now directly owns 45,486 shares of the company’s stock, valued at $2,306,140.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Luke A. Pomilio sold 10,020 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $53.57, for a total value of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at $2,382,365.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,812 shares of company stock valued at $2,654,756. Insiders own 2.62% of the company’s stock.

CONMED Co. (CNMD) opened at $56.48 on Monday. CONMED Co. has a 52 week low of $39.74 and a 52 week high of $56.51. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1,577.71, a PE ratio of 100.86, a price-to-earnings-growth ratio of 3.23 and a beta of 0.66.

CONMED (NASDAQ:CNMD) last posted its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The firm had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $187.13 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. equities research analysts predict that CONMED Co. will post 1.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. CONMED’s payout ratio is 142.86%.

A number of brokerages recently commented on CNMD. Zacks Investment Research cut CONMED from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised CONMED from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of CONMED in a research note on Friday, November 17th. KeyCorp reaffirmed a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $46.00 price objective on shares of CONMED in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $53.00.

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

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