CONMED Co. (NYSE:CNMD) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC lowered its stake in shares of CONMED Co. (NYSE:CNMDFree Report) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,231 shares of the company’s stock after selling 771 shares during the quarter. Oak Ridge Investments LLC owned approximately 0.07% of CONMED worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its holdings in CONMED by 586.7% during the first quarter. Belpointe Asset Management LLC now owns 309 shares of the company’s stock worth $32,000 after purchasing an additional 264 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of CONMED by 31.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 337 shares of the company’s stock worth $46,000 after acquiring an additional 81 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in shares of CONMED during the second quarter worth approximately $46,000. Tower Research Capital LLC TRC grew its position in shares of CONMED by 712.8% during the first quarter. Tower Research Capital LLC TRC now owns 764 shares of the company’s stock worth $79,000 after acquiring an additional 670 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of CONMED by 30.7% during the third quarter. AdvisorNet Financial Inc now owns 1,055 shares of the company’s stock worth $106,000 after acquiring an additional 248 shares during the last quarter.

CONMED Price Performance

CONMED stock opened at $111.54 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of 60.29, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. CONMED Co. has a one year low of $88.01 and a one year high of $138.47. The business has a fifty day moving average of $108.57 and a two-hundred day moving average of $110.15. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.80 and a current ratio of 1.66.

CONMED (NYSE:CNMDGet Free Report) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The firm had revenue of $304.58 million during the quarter, compared to analysts’ expectations of $301.22 million. CONMED had a return on equity of 11.46% and a net margin of 4.96%. As a group, analysts predict that CONMED Co. will post 3.5 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Monday, December 18th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, December 15th. CONMED’s payout ratio is 43.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of CONMED from $136.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. StockNews.com upgraded shares of CONMED from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Piper Sandler lowered their price objective on shares of CONMED from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. Needham & Company LLC lowered their price objective on shares of CONMED from $140.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Finally, Wells Fargo & Company lowered their price objective on shares of CONMED from $123.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.17.

View Our Latest Research Report on CONMED

Insider Buying and Selling at CONMED

In other CONMED news, insider Stanley W. Peters III sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $102.39, for a total value of $122,868.00. Following the transaction, the insider now directly owns 63 shares of the company’s stock, valued at approximately $6,450.57. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Stanley W. Peters III sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $102.39, for a total transaction of $122,868.00. Following the sale, the insider now directly owns 63 shares of the company’s stock, valued at approximately $6,450.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stanley W. Peters III sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $109.93, for a total value of $252,839.00. Following the sale, the insider now directly owns 63 shares in the company, valued at $6,925.59. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by corporate insiders.

CONMED Profile

(Free Report)

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 Agro 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.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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