Citadel Advisors LLC Trims Stake in CONMED Corporation (CNMD)
Citadel Advisors LLC lowered its stake in shares of CONMED Corporation (NASDAQ:CNMD) by 67.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,404 shares of the medical technology company’s stock after selling 49,723 shares during the period. Citadel Advisors LLC owned 0.09% of CONMED Corporation worth $1,243,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CNMD. Ameritas Investment Partners Inc. purchased a new position in CONMED Corporation in the first quarter valued at approximately $106,000. SG Americas Securities LLC bought a new position in CONMED Corporation during the second quarter valued at $111,000. Karp Capital Management Corp purchased a new stake in CONMED Corporation in the first quarter worth $202,000. Oppenheimer Asset Management Inc. purchased a new stake in CONMED Corporation in the first quarter worth $203,000. Finally, Pillar Pacific Capital Management LLC purchased a new stake in CONMED Corporation in the second quarter worth $229,000. Institutional investors own 98.32% of the company’s stock.
CONMED Corporation (CNMD) opened at 53.28 on Wednesday. The stock has a market capitalization of $1.49 billion, a PE ratio of 95.31 and a beta of 0.68. The company’s 50-day moving average price is $50.34 and its 200 day moving average price is $49.40. CONMED Corporation has a 52-week low of $37.60 and a 52-week high of $54.12.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The firm had revenue of $197.20 million for the quarter, compared to the consensus estimate of $194.50 million. During the same period last year, the firm earned $0.47 EPS. The company’s revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that CONMED Corporation will post $1.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 14th. CONMED Corporation’s payout ratio is currently 142.86%.
CNMD has been the subject of several research reports. BidaskClub upgraded CONMED Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Zacks Investment Research cut CONMED Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Needham & Company LLC boosted their price objective on CONMED Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of CONMED Corporation in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.33.
ILLEGAL ACTIVITY WARNING: “Citadel Advisors LLC Trims Stake in CONMED Corporation (CNMD)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/04/citadel-advisors-llc-trims-stake-in-conmed-corporation-cnmd.html.
In other CONMED Corporation news, Director Jo Ann Golden sold 3,000 shares of CONMED Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the director now directly owns 19,782 shares in the company, valued at approximately $989,100. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.62% of the stock is currently owned by insiders.
CONMED Corporation Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
Want to see what other hedge funds are holding CNMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CONMED Corporation (NASDAQ:CNMD).
Receive News & Stock Ratings for CONMED Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED Corporation and related stocks with our FREE daily email newsletter.