Crossmark Global Holdings Inc. lessened its position in shares of CONMED Co. (NASDAQ:CNMD) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,580 shares of the medical technology company’s stock after selling 160 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in CONMED were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of CONMED during the 2nd quarter worth approximately $27,000. Pearl River Capital LLC acquired a new stake in CONMED in the 2nd quarter valued at $31,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in CONMED by 743.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 675 shares of the medical technology company’s stock valued at $58,000 after buying an additional 595 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in CONMED by 272.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the medical technology company’s stock valued at $93,000 after buying an additional 796 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in CONMED in the 1st quarter valued at $150,000.
Shares of CNMD opened at $95.66 on Thursday. The stock has a fifty day moving average price of $98.11 and a two-hundred day moving average price of $88.58. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.44 and a current ratio of 2.55. CONMED Co. has a 52-week low of $56.90 and a 52-week high of $103.90. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 2.21 and a beta of 0.51.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Friday, September 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.80 annualized dividend and a yield of 0.84%. CONMED’s payout ratio is 36.70%.
In other CONMED news, EVP Daniel Jonas sold 2,909 shares of CONMED stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $92.10, for a total value of $267,918.90. Following the completion of the transaction, the executive vice president now owns 28,319 shares in the company, valued at approximately $2,608,179.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dirk Kuyper sold 11,614 shares of CONMED stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $91.10, for a total value of $1,058,035.40. Following the completion of the transaction, the director now owns 10,396 shares of the company’s stock, valued at approximately $947,075.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,476 shares of company stock valued at $1,610,458. Corporate insiders own 4.38% of the company’s stock.
Several analysts recently commented on CNMD shares. Piper Jaffray Companies raised CONMED from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $88.00 to $110.00 in a research note on Thursday, August 22nd. BidaskClub raised CONMED from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price target on CONMED from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays boosted their price target on CONMED from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, ValuEngine lowered CONMED from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $104.60.
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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