CONMED Co. (NYSE:CNMD) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,346 shares of the company's stock after selling 10,031 shares during the period. Wedge Capital Management L L P NC owned about 0.11% of CONMED worth $2,074,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Beverly Hills Private Wealth LLC boosted its stake in shares of CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company's stock worth $257,000 after acquiring an additional 168 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake 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 worth $221,000 after acquiring an additional 205 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of CONMED by 10.2% in the fourth quarter. Blue Trust Inc. now owns 3,438 shares of the company's stock worth $235,000 after acquiring an additional 317 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake 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. Finally, Swiss National Bank boosted its stake in shares of CONMED by 0.8% in the fourth quarter. Swiss National Bank now owns 60,600 shares of the company's stock worth $4,147,000 after acquiring an additional 500 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CNMD shares. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus downgraded CONMED from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Finally, Needham & Company LLC downgraded CONMED from a "buy" rating to a "hold" rating and set a $61.00 price objective on the stock. in a research report on Thursday. 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 a consensus rating of "Hold" and an average price target of $62.20.

Insider Buying and Selling at CONMED

In other news, Director Charles Farkas sold 4,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction 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. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company's stock.

CONMED Trading Down 2.6%

NYSE:CNMD traded down $1.44 on Friday, reaching $53.53. The company's stock had a trading volume of 325,631 shares, compared to its average volume of 444,279. CONMED Co. has a 12-month low of $46.00 and a 12-month high of $78.19. 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 market cap of $1.66 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24. The stock has a 50 day moving average price of $55.00 and a 200 day moving average price of $62.24.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company had revenue of $321.26 million for the quarter, compared to the consensus estimate of $313.38 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm 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 of this dividend is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. CONMED's dividend payout ratio is currently 21.05%.

About CONMED

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.