CONMED Co. (NYSE:CNMD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 42.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 81,519 shares of the company's stock after selling 59,427 shares during the period. Nuveen Asset Management LLC owned 0.26% of CONMED worth $5,579,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Charles Farkas sold 4,000 shares of the business's 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 sale, the director now owns 16,346 shares of the company's stock, valued at approximately $930,741.24. The trade was a 19.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

CONMED Stock Performance

CNMD stock traded up $1.54 during trading on Tuesday, reaching $56.92. 99,556 shares of the company's stock were exchanged, compared to its average volume of 443,790. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58. The firm has a market cap of $1.76 billion, a PE ratio of 13.42, a P/E/G ratio of 1.83 and a beta of 1.19. The company's fifty day moving average price is $55.19 and its 200-day moving average price is $63.12. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last posted 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 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 prior year, the company posted $0.79 earnings per share. On average, research analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

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

Wall Street Analysts Forecast Growth

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