CONMED Corporation (CNMD) Shares Sold by BlackRock Inc.
BlackRock Inc. decreased its holdings in shares of CONMED Corporation (NASDAQ:CNMD) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,117,406 shares of the medical technology company’s stock after selling 36,021 shares during the period. BlackRock Inc. owned 11.16% of CONMED Corporation worth $158,800,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CNMD. Ameritas Investment Partners Inc. bought a new stake in shares of CONMED Corporation during the 1st quarter valued at about $106,000. SG Americas Securities LLC bought a new stake in shares of CONMED Corporation during the 2nd quarter valued at about $111,000. Karp Capital Management Corp bought a new stake in shares of CONMED Corporation during the 1st quarter valued at about $202,000. Oppenheimer Asset Management Inc. bought a new stake in shares of CONMED Corporation during the 1st quarter valued at about $203,000. Finally, Pillar Pacific Capital Management LLC bought a new position in CONMED Corporation in the second quarter worth approximately $229,000. Institutional investors own 98.32% of the company’s stock.
Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price target on shares of CONMED Corporation in a report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of CONMED Corporation in a report on Friday, August 25th. BidaskClub lowered CONMED Corporation from a “sell” rating to a “strong sell” rating in a report on Sunday, August 20th. TheStreet upgraded CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered CONMED Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.33.
CONMED Corporation (NASDAQ:CNMD) last posted its earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The firm had revenue of $197.20 million for the quarter, compared to the consensus estimate of $194.50 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.52%. CONMED Corporation’s dividend payout ratio (DPR) is 142.86%.
In other CONMED Corporation news, Director Jo Ann Golden sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the director now owns 19,782 shares in the company, valued at approximately $989,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.62% of the stock is currently owned by corporate insiders.
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CONMED Corporation 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.
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