First Trust Advisors LP grew its holdings in shares of CONMED Co. (NASDAQ:CNMD) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,689 shares of the medical technology company’s stock after purchasing an additional 3,112 shares during the quarter. First Trust Advisors LP’s holdings in CONMED were worth $3,385,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of CONMED by 2.1% during the 4th quarter. Macquarie Group Ltd. now owns 807,148 shares of the medical technology company’s stock valued at $51,819,000 after purchasing an additional 16,408 shares during the last quarter. Norges Bank purchased a new stake in shares of CONMED during the 4th quarter valued at $33,144,000. Wendell David Associates Inc. purchased a new stake in shares of CONMED during the 1st quarter valued at $218,000. Great West Life Assurance Co. Can increased its position in shares of CONMED by 9.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 35,029 shares of the medical technology company’s stock valued at $2,075,000 after purchasing an additional 2,965 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of CONMED by 7.9% during the 4th quarter. Bank of America Corp DE now owns 135,524 shares of the medical technology company’s stock valued at $8,701,000 after purchasing an additional 9,867 shares during the last quarter. 96.75% of the stock is owned by hedge funds and other institutional investors.

Shares of CNMD opened at $82.42 on Friday. CONMED Co. has a fifty-two week low of $56.90 and a fifty-two week high of $85.91. The stock has a market capitalization of $2.33 billion, a P/E ratio of 37.81, a PEG ratio of 2.48 and a beta of 0.61. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 1.16.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, June 13th. CONMED’s dividend payout ratio (DPR) is currently 36.70%.

Several equities research analysts have recently issued reports on the company. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 7th. Barclays raised their target price on CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 target price (up from $87.00) on shares of CONMED in a research report on Tuesday, April 16th. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Monday, April 15th. Finally, Stifel Nicolaus began coverage on CONMED in a report on Wednesday, April 17th. They issued a “buy” rating and a $95.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $91.00.

In related news, Director Dirk Kuyper sold 2,000 shares of CONMED stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.39, for a total value of $166,780.00. Following the completion of the sale, the director now owns 13,906 shares of the company’s stock, valued at approximately $1,159,621.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stanley W. Peters III sold 1,511 shares of CONMED stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $82.00, for a total value of $123,902.00. Following the transaction, the vice president now directly owns 618 shares of the company’s stock, valued at approximately $50,676. The disclosure for this sale can be found here. In the last three months, insiders sold 14,937 shares of company stock valued at $1,229,478. 4.38% of the stock is currently owned by insiders.

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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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