Dimensional Fund Advisors LP cut its position in shares of CONMED Corporation (NASDAQ:CNMD) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,229,291 shares of the medical technology company’s stock after selling 34,730 shares during the period. Dimensional Fund Advisors LP owned about 7.98% of CONMED worth $116,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AHL Partners LLP raised its position in shares of CONMED by 2,792.2% in the 2nd quarter. AHL Partners LLP now owns 158,090 shares of the medical technology company’s stock worth $8,053,000 after acquiring an additional 152,624 shares in the last quarter. Heartland Advisors Inc. raised its position in shares of CONMED by 315.7% in the 2nd quarter. Heartland Advisors Inc. now owns 165,992 shares of the medical technology company’s stock worth $8,456,000 after acquiring an additional 126,062 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of CONMED by 5.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock worth $114,415,000 after acquiring an additional 111,096 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of CONMED by 13.9% in the 3rd quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock worth $38,406,000 after acquiring an additional 89,078 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of CONMED in the 2nd quarter worth $4,193,000. 99.04% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Luke A. Pomilio sold 10,020 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.57, for a total transaction of $536,771.40. Following the transaction, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luke A. Pomilio sold 12,429 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $50.63, for a total value of $629,280.27. Following the transaction, the chief financial officer now directly owns 45,486 shares in the company, valued at $2,302,956.18. The disclosure for this sale can be found here. Insiders have sold a total of 51,812 shares of company stock worth $2,654,756 over the last ninety days. 2.62% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. BidaskClub lowered CONMED from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 price target on shares of CONMED in a research report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of CONMED in a research report on Friday, August 25th. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $46.00 price target on shares of CONMED in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. CONMED currently has a consensus rating of “Hold” and an average target price of $50.67.

CONMED Corporation (CNMD) opened at $50.50 on Monday. The company has a market capitalization of $1,410.67, a price-to-earnings ratio of 28.86, a PEG ratio of 3.24 and a beta of 0.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.56 and a quick ratio of 1.49. CONMED Corporation has a 1 year low of $39.74 and a 1 year high of $54.77.

CONMED (NASDAQ:CNMD) last announced its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The company had revenue of $190.10 million for the quarter, compared to analyst estimates of $187.13 million. During the same period in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. research analysts anticipate that CONMED Corporation will post 1.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, December 14th. CONMED’s dividend payout ratio is currently 142.86%.

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CONMED Company 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.

Institutional Ownership by Quarter for CONMED (NASDAQ:CNMD)

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