KBC Group NV Has $87,000 Holdings in CONMED Corporation (NYSE:CNMD)

KBC Group NV trimmed its holdings in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 99.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,438 shares of the company's stock after selling 200,000 shares during the quarter. KBC Group NV's holdings in CONMED were worth $87,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Beverly Hills Private Wealth LLC increased its holdings in shares of CONMED by 4.7% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company's stock valued at $257,000 after acquiring an additional 168 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of CONMED by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock valued at $221,000 after acquiring an additional 205 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of CONMED by 2.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock valued at $586,000 after acquiring an additional 217 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of CONMED by 7.0% during the 1st quarter. QRG Capital Management Inc. now owns 5,326 shares of the company's stock valued at $322,000 after acquiring an additional 350 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of CONMED by 0.8% during the 4th quarter. Swiss National Bank now owns 60,600 shares of the company's stock valued at $4,147,000 after acquiring an additional 500 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other CONMED 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 transaction of $227,760.00. Following the completion of the transaction, the director directly owned 16,346 shares in the company, valued at $930,741.24. This represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

CONMED Stock Performance

CNMD stock traded down $2.36 during trading on Friday, reaching $51.21. 333,935 shares of the stock were exchanged, compared to its average volume of 446,763. CONMED Corporation has a twelve month low of $46.00 and a twelve month high of $78.19. The company has a market capitalization of $1.58 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The stock has a 50 day simple moving average of $55.66 and a 200-day simple moving average of $59.66. The company has a current ratio of 2.26, a quick ratio of 1.00 and a debt-to-equity ratio of 0.91.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share 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 for the quarter, compared to the consensus estimate of $313.38 million. During the same period last year, the business earned $0.79 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. CONMED's dividend payout ratio (DPR) is presently 21.05%.

CONMED Company Profile

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.