Dana Investment Advisors Inc. cut its stake in shares of CONMED Co. (NYSE:CNMD) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,657 shares of the company’s stock after selling 648 shares during the quarter. Dana Investment Advisors Inc.’s holdings in CONMED were worth $640,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in CONMED during the 2nd quarter worth about $43,000. Amundi Pioneer Asset Management Inc. acquired a new position in CONMED during the 1st quarter worth about $150,000. Captrust Financial Advisors lifted its holdings in CONMED by 386.8% during the 1st quarter. Captrust Financial Advisors now owns 1,217 shares of the company’s stock worth $159,000 after buying an additional 967 shares during the period. FORA Capital LLC acquired a new position in CONMED during the 1st quarter worth about $194,000. Finally, ARGI Investment Services LLC acquired a new position in shares of CONMED in the 1st quarter valued at about $201,000.
In other news, CFO Todd W. Garner sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $122.76, for a total value of $165,726.00. Following the completion of the transaction, the chief financial officer now directly owns 1,322 shares of the company’s stock, valued at $162,288.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Jed Kennedy sold 5,438 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $134.77, for a total value of $732,879.26. The disclosure for this sale can be found here. Insiders have sold a total of 11,028 shares of company stock valued at $1,469,945 over the last three months. Corporate insiders own 1.10% of the company’s stock.
CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, July 28th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.09. The firm had revenue of $255.16 million during the quarter, compared to analyst estimates of $247.87 million. CONMED had a return on equity of 12.89% and a net margin of 5.53%. On average, sell-side analysts expect that CONMED Co. will post 3.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 5th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, September 14th. CONMED’s dividend payout ratio is currently 36.70%.
CNMD has been the topic of a number of recent analyst reports. Barclays initiated coverage on CONMED in a research note on Monday, May 24th. They issued an “overweight” rating and a $175.00 price objective on the stock. UBS Group began coverage on CONMED in a research note on Thursday, July 15th. They issued a “buy” rating and a $160.00 price objective on the stock.
CONMED Corp. operates as a medical technology company, which engages in the development, manufacture and sale of surgical devices and related equipment. It operates through the following geographical segments: United States; Americas excluding the United States; Europe, Middle East, and Africa; and Asia Pacific.
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