Park Avenue Securities LLC Raises Stock Position in CONMED Co. (NYSE:CNMD)

Park Avenue Securities LLC lifted its stake in shares of CONMED Co. (NYSE:CNMDGet Rating) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,950 shares of the company’s stock after buying an additional 222 shares during the quarter. Park Avenue Securities LLC’s holdings in CONMED were worth $237,000 at the end of the most recent reporting period.

Separately, Jennison Associates LLC lifted its position in shares of CONMED by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 505,806 shares of the company’s stock worth $40,550,000 after buying an additional 4,953 shares during the last quarter.

CONMED Price Performance

Shares of CONMED stock opened at $98.97 on Tuesday. The firm has a fifty day simple moving average of $89.15. The firm has a market cap of $3.02 billion, a PE ratio of -33.55, a price-to-earnings-growth ratio of 2.78 and a beta of 1.35. CONMED Co. has a 12 month low of $71.09 and a 12 month high of $155.51. The company has a quick ratio of 1.29, a current ratio of 2.75 and a debt-to-equity ratio of 1.45.

CONMED (NYSE:CNMDGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $275.09 million for the quarter, compared to analysts’ expectations of $282.23 million. CONMED had a negative net margin of 7.74% and a positive return on equity of 14.00%. Analysts anticipate that CONMED Co. will post 3.15 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Friday, December 16th were paid a $0.20 dividend. The ex-dividend date was Thursday, December 15th. This represents a $0.80 annualized dividend and a yield of 0.81%. CONMED’s dividend payout ratio is currently -27.12%.

Insider Buying and Selling at CONMED

In other CONMED news, CFO Todd W. Garner sold 4,500 shares of the business’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $89.31, for a total value of $401,895.00. Following the transaction, the chief financial officer now directly owns 1 shares of the company’s stock, valued at approximately $89.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CNMD has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on shares of CONMED from $90.00 to $106.00 and gave the company a “buy” rating in a report on Tuesday, November 15th. TheStreet raised shares of CONMED from a “d+” rating to a “c-” rating in a report on Friday, December 30th.


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CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

Further Reading

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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