Jane Street Group LLC Sells 33,640 Shares of CONMED Co. (NYSE:CNMD)

Jane Street Group LLC lowered its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 78.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,352 shares of the company's stock after selling 33,640 shares during the period. Jane Street Group LLC's holdings in CONMED were worth $640,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in CONMED during the 4th quarter worth approximately $82,000. Pacer Advisors Inc. grew its holdings in shares of CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after buying an additional 485 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after buying an additional 322 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of CONMED during the fourth quarter valued at approximately $210,000. Finally, Summit Investment Advisors Inc. boosted its holdings in CONMED by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock worth $221,000 after purchasing an additional 205 shares during the last quarter.

Analysts Set New Price Targets

CNMD has been the topic of several analyst reports. Needham & Company LLC dropped their price target on shares of CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut shares of CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their target price on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and cut their price target for the company from $75.00 to $55.00 in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, CONMED presently has a consensus rating of "Hold" and a consensus target price of $62.20.

CONMED Price Performance

CNMD traded down $0.92 during trading on Friday, reaching $56.77. The company's stock had a trading volume of 284,051 shares, compared to its average volume of 445,924. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $55.30 and a two-hundred day simple moving average of $63.29. CONMED Co. has a 1 year low of $46.00 and a 1 year high of $78.58. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.83 and a beta of 1.19.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 EPS 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 the consensus estimate of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. CONMED's payout ratio is 21.05%.

Insider Activity

In related news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the transaction, the director now owns 16,346 shares of the company's stock, valued at approximately $930,741.24. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company's stock.

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.