Texas Permanent School Fund raised its holdings in CONMED Co. (NASDAQ:CNMD) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,935 shares of the medical technology company’s stock after purchasing an additional 662 shares during the period. Texas Permanent School Fund owned about 0.06% of CONMED worth $1,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of CONMED by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 404,036 shares of the medical technology company’s stock valued at $29,574,000 after purchasing an additional 3,964 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of CONMED by 22.3% during the 3rd quarter. First Trust Advisors LP now owns 61,540 shares of the medical technology company’s stock valued at $4,875,000 after purchasing an additional 11,210 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of CONMED by 139.3% during the 3rd quarter. Acadian Asset Management LLC now owns 7,804 shares of the medical technology company’s stock valued at $618,000 after purchasing an additional 4,543 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of CONMED by 110.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,422 shares of the medical technology company’s stock valued at $349,000 after purchasing an additional 2,316 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of CONMED by 79.7% during the 3rd quarter. American Century Companies Inc. now owns 128,414 shares of the medical technology company’s stock valued at $10,173,000 after purchasing an additional 56,964 shares during the last quarter. 94.96% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of CONMED from a “hold” rating to a “sell” rating in a report on Monday, January 21st. BidaskClub upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Needham & Company LLC lifted their target price on shares of CONMED to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Finally, Barclays started coverage on shares of CONMED in a research report on Tuesday, February 19th. They set an “overweight” rating and a $85.00 target price on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. CONMED has a consensus rating of “Buy” and a consensus target price of $83.00.

In related news, EVP Peter K. Shagory sold 4,000 shares of CONMED stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $69.29, for a total transaction of $277,160.00. Following the sale, the executive vice president now directly owns 5,155 shares in the company, valued at approximately $357,189.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter K. Shagory sold 3,000 shares of CONMED stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $77.77, for a total transaction of $233,310.00. Following the sale, the executive vice president now owns 4,649 shares in the company, valued at $361,552.73. The disclosure for this sale can be found here. 3.13% of the stock is owned by company insiders.

NASDAQ:CNMD opened at $78.90 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.37 and a current ratio of 2.33. CONMED Co. has a one year low of $56.90 and a one year high of $83.49. The company has a market cap of $2.22 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66.

CONMED (NASDAQ:CNMD) last posted its earnings results on Tuesday, January 22nd. The medical technology company reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. CONMED had a net margin of 4.75% and a return on equity of 9.65%. The business had revenue of $242.40 million for the quarter, compared to the consensus estimate of $228.40 million. During the same period last year, the company earned $0.69 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts expect that CONMED Co. will post 2.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.01%. CONMED’s dividend payout ratio is presently 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 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.

Further Reading: Asset Allocation and Your Retirement

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Institutional Ownership by Quarter for CONMED (NASDAQ:CNMD)

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