Cerity Partners LLC Purchases New Position in CONMED Corporation (NYSE:CNMD)

Cerity Partners LLC bought a new stake in CONMED Corporation (NYSE:CNMD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,489 shares of the company's stock, valued at approximately $633,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNMD. Silvercrest Asset Management Group LLC purchased a new position in shares of CONMED during the 4th quarter worth $68,489,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of CONMED during the 4th quarter worth $59,046,000. Neuberger Berman Group LLC purchased a new position in shares of CONMED during the 4th quarter worth $21,395,000. Raymond James Financial Inc. purchased a new position in shares of CONMED during the 4th quarter worth $18,248,000. Finally, Natixis lifted its stake in shares of CONMED by 1,069.2% during the 4th quarter. Natixis now owns 114,000 shares of the company's stock worth $7,802,000 after purchasing an additional 104,250 shares during the period.

Insider Transactions at CONMED

In related news, Director Charles Farkas sold 4,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $56.94, for a total value of $227,760.00. Following the completion of the sale, the director directly owned 16,346 shares in the company, valued at approximately $930,741.24. This represents a 19.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CNMD. Wells Fargo & Company reduced their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Stifel Nicolaus downgraded CONMED from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $75.00 to $55.00 in a report on Monday, April 28th. Finally, Needham & Company LLC downgraded CONMED from a "buy" rating to a "hold" rating and set a $61.00 price objective for the company. in a report on Thursday, June 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, CONMED presently has a consensus rating of "Hold" and a consensus target price of $62.20.

CONMED Trading Down 1.8%

Shares of CNMD stock traded down $0.90 on Monday, reaching $50.05. 459,219 shares of the stock were exchanged, compared to its average volume of 422,237. The stock has a market cap of $1.55 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 2.26 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $53.52 and a two-hundred day moving average of $57.88. CONMED Corporation has a 1-year low of $46.00 and a 1-year high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.14. CONMED had a return on equity of 14.36% and a net margin of 9.02%. The business had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. During the same period in the prior year, the firm posted $0.79 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a $0.20 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.80 annualized dividend and a yield of 1.60%. CONMED's dividend payout ratio is currently 21.05%.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.