Great West Life Assurance Co. Can lessened its stake in shares of CONMED Corporation (NASDAQ:CNMD) by 6.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,638 shares of the medical technology company’s stock after selling 2,574 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.12% of CONMED worth $1,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its stake in shares of CONMED by 3.3% during the second quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock worth $103,000 after buying an additional 64 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of CONMED by 1.0% in the second quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock worth $923,000 after purchasing an additional 173 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of CONMED by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the medical technology company’s stock worth $298,000 after purchasing an additional 220 shares during the last quarter. Aperio Group LLC grew its stake in shares of CONMED by 10.7% in the second quarter. Aperio Group LLC now owns 5,034 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 487 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of CONMED by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 69,195 shares of the medical technology company’s stock worth $3,525,000 after purchasing an additional 868 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the stock. BidaskClub cut shares of CONMED from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $58.00 price objective on shares of CONMED in a research note on Friday, November 17th. Zacks Investment Research raised shares of CONMED from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. KeyCorp reissued a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $46.00 price objective on shares of CONMED in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. CONMED has an average rating of “Hold” and an average target price of $50.67.

Shares of CONMED Corporation (CNMD) opened at $50.48 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84. CONMED Corporation has a one year low of $39.74 and a one year high of $54.77. The firm has a market cap of $1,410.67, a price-to-earnings ratio of 28.86, a P/E/G ratio of 3.24 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, topping the consensus estimate of $0.41 by $0.01. CONMED had a net margin of 1.99% and a return on equity of 8.40%. The company had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $187.13 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. CONMED’s revenue for the quarter was up 2.9% on a year-over-year basis. analysts forecast that CONMED Corporation will post 1.84 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 1.58%. CONMED’s payout ratio is 142.86%.

In related news, EVP Luke A. Pomilio sold 10,020 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.57, for a total value of $536,771.40. Following the transaction, the executive vice president now owns 44,472 shares in the company, valued at $2,382,365.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Luke A. Pomilio sold 12,429 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $50.63, for a total transaction of $629,280.27. Following the completion of the transaction, the chief financial officer now owns 45,486 shares in the company, valued at approximately $2,302,956.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,812 shares of company stock worth $2,654,756. 2.62% of the stock is owned by company 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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