Wells Fargo & Company MN lifted its holdings in CONMED Co. (NASDAQ:CNMD) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,183 shares of the medical technology company’s stock after purchasing an additional 3,683 shares during the period. Wells Fargo & Company MN owned 0.19% of CONMED worth $3,305,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Jefferies Group LLC acquired a new stake in shares of CONMED in the 4th quarter valued at $200,000. Amalgamated Bank acquired a new stake in shares of CONMED in the 4th quarter valued at $200,000. Xact Kapitalforvaltning AB acquired a new stake in shares of CONMED in the 4th quarter valued at $261,000. Stone Ridge Asset Management LLC acquired a new stake in shares of CONMED in the 4th quarter valued at $268,000. Finally, Koch Industries Inc. acquired a new stake in shares of CONMED in the 4th quarter valued at $275,000. 95.43% of the stock is owned by institutional investors and hedge funds.

In other CONMED news, VP Terence M. Berge sold 673 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $73.00, for a total transaction of $49,129.00. Following the completion of the transaction, the vice president now owns 19,908 shares of the company’s stock, valued at approximately $1,453,284. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Nathan Folkert sold 4,409 shares of the business’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $64.98, for a total transaction of $286,496.82. Following the transaction, the vice president now directly owns 1,264 shares of the company’s stock, valued at approximately $82,134.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,780 shares of company stock valued at $1,243,985. Company insiders own 3.13% of the company’s stock.

CONMED stock opened at $75.63 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.99 and a beta of 0.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.15 and a quick ratio of 1.23. CONMED Co. has a fifty-two week low of $47.41 and a fifty-two week high of $76.63.

CONMED (NASDAQ:CNMD) last released its earnings results on Wednesday, April 25th. The medical technology company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.10. The firm had revenue of $202.10 million during the quarter, compared to analyst estimates of $196.51 million. CONMED had a net margin of 8.71% and a return on equity of 9.46%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. equities analysts forecast that CONMED Co. will post 2.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 5th. Shareholders of record on Friday, June 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Thursday, June 14th. CONMED’s dividend payout ratio is 42.33%.

Several research firms recently issued reports on CNMD. Zacks Investment Research lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub raised shares of CONMED from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Finally, Needham & Company LLC lifted their price objective on shares of CONMED from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. CONMED presently has an average rating of “Buy” and a consensus target price of $67.67.

CONMED Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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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