State of Alaska Department of Revenue Trims Stake in CONMED Co. (NYSE:CNMD)


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State of Alaska Department of Revenue lowered its holdings in CONMED Co. (NYSE:CNMD) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,256 shares of the company’s stock after selling 4,480 shares during the quarter. State of Alaska Department of Revenue’s holdings in CONMED were worth $2,492,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. California State Teachers Retirement System raised its position in CONMED by 0.3% in the third quarter. California State Teachers Retirement System now owns 41,102 shares of the company’s stock valued at $3,233,000 after purchasing an additional 122 shares during the period. Harbor Investment Advisory LLC raised its holdings in shares of CONMED by 104.6% in the 3rd quarter. Harbor Investment Advisory LLC now owns 446 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of CONMED by 2.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,723 shares of the company’s stock valued at $922,000 after buying an additional 300 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of CONMED in the 3rd quarter valued at $28,000. Finally, Dimension Capital Management LLC purchased a new stake in shares of CONMED in the 3rd quarter valued at $28,000.

CNMD has been the topic of several research analyst reports. ValuEngine downgraded CONMED from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. BidaskClub upgraded CONMED from a “buy” rating to a “strong-buy” rating in a report on Friday, December 25th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $88.33.

Shares of NYSE CNMD opened at $117.08 on Thursday. The stock’s 50-day moving average is $111.91 and its two-hundred day moving average is $95.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.26 and a quick ratio of 1.24. CONMED Co. has a 1-year low of $37.66 and a 1-year high of $118.51. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -2,927.00, a price-to-earnings-growth ratio of 3.42 and a beta of 1.55.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.63. The company had revenue of $237.84 million for the quarter, compared to the consensus estimate of $204.91 million. CONMED had a return on equity of 9.48% and a net margin of 0.04%. Equities research analysts anticipate that CONMED Co. will post 2.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 15th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.68%. CONMED’s dividend payout ratio is currently 30.30%.

In other news, CEO Curt R. Hartman sold 2,512 shares of the company’s stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $105.40, for a total transaction of $264,764.80. Following the completion of the transaction, the chief executive officer now directly owns 240,051 shares of the company’s stock, valued at approximately $25,301,375.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stanley W. Peters III sold 554 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $94.31, for a total value of $52,247.74. Following the transaction, the vice president now directly owns 617 shares of the company’s stock, valued at $58,189.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,258 shares of company stock valued at $5,012,209. Insiders own 5.39% of the company’s stock.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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