Capital World Investors Has $56,442,000 Stake in CONMED Corporation (CNMD)
Capital World Investors held its stake in CONMED Corporation (NASDAQ:CNMD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,108,000 shares of the medical technology company’s stock at the close of the 2nd quarter. Capital World Investors owned 3.97% of CONMED Corporation worth $56,442,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the business. Rothschild Asset Management Inc. grew its stake in shares of CONMED Corporation by 0.3% in the 2nd quarter. Rothschild Asset Management Inc. now owns 35,232 shares of the medical technology company’s stock worth $1,795,000 after acquiring an additional 107 shares in the last quarter. Texas Permanent School Fund lifted its holdings in CONMED Corporation by 1.0% during the second quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock valued at $923,000 after purchasing an additional 173 shares during the last quarter. Arizona State Retirement System lifted its holdings in CONMED Corporation by 1.6% during the first quarter. Arizona State Retirement System now owns 12,903 shares of the medical technology company’s stock valued at $573,000 after purchasing an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in CONMED Corporation by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the medical technology company’s stock valued at $298,000 after purchasing an additional 220 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in CONMED Corporation by 0.7% during the first quarter. Legal & General Group Plc now owns 45,381 shares of the medical technology company’s stock valued at $2,013,000 after purchasing an additional 322 shares during the last quarter. Institutional investors and hedge funds own 98.32% of the company’s stock.
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CNMD has been the topic of several recent research reports. BidaskClub downgraded shares of CONMED Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. KeyCorp reissued a “hold” rating on shares of CONMED Corporation in a report on Friday, August 25th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of CONMED Corporation in a research report on Friday, September 1st. Zacks Investment Research cut shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Two 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 stock presently has a consensus rating of “Hold” and an average price target of $49.33.
CONMED Corporation (NASDAQ:CNMD) opened at 54.24 on Friday. CONMED Corporation has a 12 month low of $37.60 and a 12 month high of $54.47. The firm’s 50-day moving average price is $50.73 and its 200 day moving average price is $49.55. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 97.03 and a beta of 0.68.
CONMED Corporation (NASDAQ:CNMD) last issued its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $197.20 million during the quarter, compared to analysts’ expectations of $194.50 million. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. On average, analysts anticipate that CONMED Corporation will post $1.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Thursday, September 14th. CONMED Corporation’s dividend payout ratio (DPR) is presently 142.86%.
In other news, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 19,782 shares of the company’s stock, valued at $989,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.62% of the company’s stock.
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.
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