Citadel Advisors LLC trimmed its stake in CONMED Corporation (NASDAQ:CNMD) by 81.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,588 shares of the medical technology company’s stock after selling 19,816 shares during the quarter. Citadel Advisors LLC’s holdings in CONMED were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CNMD. Teachers Advisors LLC raised its stake in shares of CONMED by 3.8% during the first quarter. Teachers Advisors LLC now owns 46,825 shares of the medical technology company’s stock valued at $2,079,000 after purchasing an additional 1,702 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of CONMED during the first quarter valued at about $1,887,000. Aperio Group LLC raised its stake in shares of CONMED by 10.7% during the second quarter. Aperio Group LLC now owns 5,034 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 487 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of CONMED by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the medical technology company’s stock valued at $298,000 after purchasing an additional 220 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of CONMED by 6.0% during the second quarter. Great West Life Assurance Co. Can now owns 37,212 shares of the medical technology company’s stock valued at $1,895,000 after purchasing an additional 2,091 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Shares of CONMED Corporation (NASDAQ:CNMD) opened at $50.50 on Friday. CONMED Corporation has a one year low of $39.74 and a one year high of $54.77. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1,422.11, a PE ratio of 29.09, a P/E/G ratio of 3.26 and a beta of 0.66.

CONMED (NASDAQ:CNMD) last issued its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. CONMED had a net margin of 1.99% and a return on equity of 8.40%. The business had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $187.13 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. research analysts predict that CONMED Corporation will post 1.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, December 14th. CONMED’s dividend payout ratio (DPR) is presently 142.86%.

In other CONMED news, CFO Luke A. Pomilio sold 12,429 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $50.63, for a total value of $629,280.27. Following the sale, the chief financial officer now directly owns 45,486 shares in the company, valued at $2,302,956.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Luke A. Pomilio sold 29,363 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the completion of the sale, the executive vice president now owns 45,486 shares in the company, valued at $2,306,140.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,812 shares of company stock worth $2,654,756. 2.62% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on the stock. KeyCorp restated a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. Piper Jaffray Companies restated a “hold” rating and set a $46.00 price objective on shares of CONMED in a research note on Friday, November 3rd. Zacks Investment Research cut shares of CONMED from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. Needham & Company LLC restated a “buy” rating and set a $58.00 price objective on shares of CONMED in a research note on Friday, November 17th. Finally, BidaskClub cut shares of CONMED from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.67.

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CONMED Company Profile

CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

Institutional Ownership by Quarter for CONMED (NASDAQ:CNMD)

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