CONMED Corporation (NYSE:CNMD) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 634,677 shares of the company's stock after buying an additional 9,619 shares during the quarter. Principal Financial Group Inc. owned about 2.05% of CONMED worth $38,328,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CNMD. GAMMA Investing LLC raised its stake in shares of CONMED by 81.4% during the first quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock worth $80,000 after purchasing an additional 591 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in CONMED during the 4th quarter worth $82,000. Summit Investment Advisors Inc. boosted its holdings in shares of CONMED by 6.8% in the fourth 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 in the last quarter. Quantinno Capital Management LP acquired a new position in shares of CONMED during the fourth quarter worth about $222,000. Finally, PEAK6 LLC purchased a new position in CONMED during the fourth quarter worth about $228,000.

CONMED Price Performance

CNMD traded down $2.47 during trading on Monday, reaching $51.86. 445,622 shares of the stock were exchanged, compared to its average volume of 447,070. CONMED Corporation has a 1 year low of $46.00 and a 1 year high of $78.19. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.40 and a beta of 1.20. The business's 50 day moving average price is $55.61 and its two-hundred day moving average price is $59.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.26 and a quick ratio of 1.00.

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

CONMED Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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 completion of the transaction, the director directly owned 16,346 shares of the company's stock, valued at $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.