Martingale Asset Management L P grew its position in CONMED Co. (NASDAQ:CNMD) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,029 shares of the medical technology company’s stock after acquiring an additional 11,200 shares during the quarter. Martingale Asset Management L P’s holdings in CONMED were worth $10,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new position in CONMED in the 4th quarter worth about $45,000. Quadrant Capital Group LLC increased its position in CONMED by 2,888.0% during the 1st quarter. Quadrant Capital Group LLC now owns 747 shares of the medical technology company’s stock valued at $61,000 after purchasing an additional 722 shares during the period. First Quadrant L P CA purchased a new position in CONMED during the 4th quarter valued at about $78,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in CONMED by 35.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,742 shares of the medical technology company’s stock valued at $106,000 after purchasing an additional 454 shares during the period. Finally, US Bancorp DE increased its position in CONMED by 48.1% during the 1st quarter. US Bancorp DE now owns 1,324 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 430 shares during the period. 96.75% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Daniel Jonas sold 4,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $80.51, for a total value of $322,040.00. Following the sale, the executive vice president now directly owns 27,497 shares in the company, valued at approximately $2,213,783.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stanley W. Peters III sold 1,511 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $82.00, for a total transaction of $123,902.00. Following the completion of the sale, the vice president now owns 618 shares in the company, valued at $50,676. The disclosure for this sale can be found here. Insiders sold a total of 10,511 shares of company stock worth $846,032 over the last 90 days. Company insiders own 4.38% of the company’s stock.

A number of research firms have commented on CNMD. BidaskClub raised shares of CONMED from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 7th. Stifel Nicolaus began coverage on shares of CONMED in a research report on Wednesday, April 17th. They set a “buy” rating and a $95.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $94.00 target price (up previously from $87.00) on shares of CONMED in a research report on Tuesday, April 16th. Barclays raised their target price on shares of CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Zacks Investment Research raised shares of CONMED from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.00.

NASDAQ CNMD opened at $81.43 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.64. CONMED Co. has a one year low of $56.90 and a one year high of $85.91.

CONMED (NASDAQ:CNMD) last posted its earnings results on Wednesday, April 24th. The medical technology company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $213.95 million. CONMED had a net margin of 3.56% and a return on equity of 9.67%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. On average, equities research analysts expect that CONMED Co. will post 2.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, June 13th. CONMED’s dividend payout ratio is currently 36.70%.

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CONMED Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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Institutional Ownership by Quarter for CONMED (NASDAQ:CNMD)

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