Mercer Global Advisors Inc. ADV Sells 328 Shares of CONMED Co. (NYSE:CNMD)

Mercer Global Advisors Inc. ADV cut its holdings in shares of CONMED Co. (NYSE:CNMD – Get Rating) by 7.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,829 shares of the company’s stock after selling 328 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in CONMED were worth $339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in CONMED by 499.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 737 shares of the company’s stock worth $59,000 after buying an additional 614 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of CONMED by 227.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,999 shares of the company’s stock valued at $160,000 after purchasing an additional 1,388 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of CONMED in the 3rd quarter valued at about $184,000. Seven Eight Capital LP bought a new stake in shares of CONMED in the 3rd quarter valued at about $219,000. Finally, Jump Financial LLC bought a new stake in shares of CONMED in the 3rd quarter valued at about $259,000.

CONMED Stock Down 2.5 %

Shares of CNMD opened at $115.75 on Thursday. CONMED Co. has a 52 week low of $71.09 and a 52 week high of $129.65. The firm has a market cap of $3.54 billion, a P/E ratio of -35.62, a price-to-earnings-growth ratio of 1.94 and a beta of 1.38. The firm’s 50-day simple moving average is $113.80 and its 200 day simple moving average is $102.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.84 and a current ratio of 1.96.

CONMED (NYSE:CNMD – Get Rating) last announced its earnings results on Wednesday, April 26th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. CONMED had a negative net margin of 7.71% and a positive return on equity of 11.39%. The firm had revenue of $295.47 million for the quarter, compared to analyst estimates of $266.66 million. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was up 21.9% compared to the same quarter last year. On average, analysts forecast that CONMED Co. will post 3.31 earnings per share for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.69%. CONMED’s payout ratio is presently -24.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNMD. CL King began coverage on shares of CONMED in a report on Monday. They issued a “buy” rating and a $140.00 target price on the stock. Wells Fargo & Company upped their target price on shares of CONMED from $96.00 to $119.00 in a report on Thursday, April 27th. Needham & Company LLC upped their target price on shares of CONMED from $122.00 to $135.00 in a report on Thursday, April 27th. Piper Sandler upped their price target on shares of CONMED from $118.00 to $128.00 in a research note on Thursday, April 27th. Finally, StockNews.com upgraded shares of CONMED from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $130.40.

Insiders Place Their Bets

In other CONMED news, CFO Todd W. Garner sold 30,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $90.93, for a total transaction of $2,727,900.00. Following the transaction, the chief financial officer now owns 1,115 shares in the company, valued at approximately $101,386.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Stanley W. Peters III sold 1,500 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $120.89, for a total transaction of $181,335.00. Following the sale, the vice president now owns 63 shares in the company, valued at approximately $7,616.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Todd W. Garner sold 30,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $90.93, for a total transaction of $2,727,900.00. Following the sale, the chief financial officer now owns 1,115 shares in the company, valued at approximately $101,386.95. The disclosure for this sale can be found here. Insiders have sold a total of 70,031 shares of company stock worth $7,777,079 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

CONMED Profile

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CONMED Corp. operates as a medical technology company, which engages in the development, manufacturing, and sale of surgical devices and related equipment. It operates through the United States, Europe, Middle East, and Africa, and Asia Pacific geographical segments. Its products are used by surgeons and physicians in a variety of medical specialties, including orthopedic surgery, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.