CONMED Corporation (NYSE:CNMD) Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 99.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC grew its holdings in CONMED by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after buying an additional 217 shares in the last quarter. Bridge City Capital LLC grew its holdings in CONMED by 20.8% in the 4th quarter. Bridge City Capital LLC now owns 44,056 shares of the company's stock worth $3,015,000 after buying an additional 7,597 shares in the last quarter. GAMMA Investing LLC grew its holdings in CONMED by 10,855.1% in the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock worth $4,803,000 after buying an additional 78,808 shares in the last quarter. Raymond James Financial Inc. bought a new position in CONMED in the 4th quarter worth approximately $18,248,000. Finally, Proficio Capital Partners LLC bought a new position in CONMED in the 4th quarter worth approximately $909,000.

CONMED Stock Performance

CNMD opened at $51.86 on Tuesday. The firm has a market cap of $1.60 billion, a PE ratio of 13.65, a P/E/G ratio of 1.40 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 business has a fifty day simple moving average of $55.63 and a 200-day simple moving average of $59.87. CONMED Corporation has a fifty-two week low of $46.00 and a fifty-two week 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 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a return on equity of 14.36% and a net margin of 9.02%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. As a group, equities analysts predict that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, June 13th. CONMED's dividend payout ratio is presently 21.05%.

Insider Buying and Selling at CONMED

In other 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 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 document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

CONMED 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.

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