Granahan Investment Management Inc. MA lifted its stake in CONMED Corporation (NASDAQ:CNMD) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,176 shares of the medical technology company’s stock after purchasing an additional 6,791 shares during the quarter. Granahan Investment Management Inc. MA owned about 0.37% of CONMED worth $5,414,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its position in shares of CONMED by 3.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after purchasing an additional 64 shares during the last quarter. Texas Permanent School Fund raised its position in shares of CONMED by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock valued at $923,000 after purchasing an additional 173 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of CONMED by 3.9% in the 2nd 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 during the last quarter. Aperio Group LLC raised its position in shares of CONMED by 10.7% in the 2nd 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 during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of CONMED by 1.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 69,195 shares of the medical technology company’s stock valued at $3,525,000 after purchasing an additional 868 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

CONMED Corporation (CNMD) opened at $50.80 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.56. The firm has a market cap of $1,437.20, a P/E ratio of 29.40, a PEG ratio of 3.30 and a beta of 0.66. CONMED Corporation has a 1-year low of $39.74 and a 1-year high of $54.77.

CONMED (NASDAQ:CNMD) last released its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) 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 firm had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $187.13 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. sell-side analysts anticipate that CONMED Corporation will post 1.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.57%. CONMED’s dividend payout ratio is currently 142.86%.

A number of research firms have issued reports on CNMD. Needham & Company LLC reissued a “buy” rating and set a $58.00 price target on shares of CONMED in a research report on Friday, November 17th. Zacks Investment Research raised shares of CONMED from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. KeyCorp reissued a “hold” rating on shares of CONMED in a research report on Friday, November 3rd. Piper Jaffray Companies reissued a “hold” rating and set a $46.00 price target on shares of CONMED in a research report on Friday, November 3rd. Finally, BidaskClub lowered shares of CONMED from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.67.

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

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About CONMED

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.

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Institutional Ownership by Quarter for CONMED (NASDAQ:CNMD)

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