Chartwell Investment Partners LLC reduced shares of CONMED Co. (NYSE:CNMD)


Chartwell Investment Partners LLC trimmed its position in shares of CONMED Co. (NYSE:CNMD – Get Rating ) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,087 shares of the company’s stock after selling 2,409 shares during the period. Chartwell Investment Partners LLC’s holdings in CONMED were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CNMD. Jennison Associates LLC purchased a new stake in shares of CONMED in the 4th quarter valued at approximately $44,198,000. Capital Research Global Investors boosted its holdings in shares of CONMED by 10.1% in the 4th quarter. Capital Research Global Investors now owns 1,127,056 shares of the company’s stock valued at $159,771,000 after acquiring an additional 103,061 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in CONMED by 14.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 610,421 shares of the company’s stock valued at $86,534,000 after purchasing an additional 75,933 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in CONMED during the 4th quarter valued at $10,482,000. Finally, Nuveen Asset Management LLC boosted its holdings in CONMED by 63.7% during the 4th quarter. Nuveen Asset Management LLC now owns 178,218 shares of the company’s stock valued at $25,264,000 after purchasing an additional 69,347 shares during the period.

In other news, Director Jerome J. Lande sold 1,521 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $117.00, for a total transaction of $177,957.00. Following the transaction, the director now owns 2,407 shares of the company’s stock, valued at approximately $281,619. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, CFO Todd W. Garner sold 2,662 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $99.79, for a total value of $265,640.98. Disclosure of this sale can be found here. In the last quarter, insiders sold 10,183 shares of company stock valued at $1,136,118. Insiders own 1.10% of the company’s stock.

Shares of CNMD stock opened at $95.40 on Monday. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The business’s fifty day simple moving average is $106.63, and the two hundred day simple moving average is $128.89. CONMED Co. has a twelve month low of $87.24 and a twelve month high of $159.11. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 3.19 and a beta of 1.53.

CONMED (NYSE:CNMD – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. CONMED had a return on equity of 13.20% and a net margin of 6.19%. The business had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.77 million. During the same quarter last year, the firm reported $0.63 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Analysts expect CONMED Co. will post 3.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were given a $0.20 dividend. The ex-dividend date was Tuesday, June 14th. This represents an annualized dividend of $0.80 and a yield of 0.84%. CONMED’s payout ratio is 41.24%.

Several analysts recently weighed in on the company. Stifel Nicolaus cut their target price on CONMED from $160.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. TheStreet lowered CONMED from a “b-” rating to a “c+” rating in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Company profile CONMED (Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures and markets surgical devices and related equipment for surgical procedures worldwide. Offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixing System, Y-knot All-Suture Anchors and PopLok Knotless Suture Anchors, which provide orthopedic surgeons with unique clinical solutions for repairing soft tissue injuries. as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)



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