The Manufacturers Life Insurance Company Sells 713 Shares of CONMED Corporation (CNMD)

The Manufacturers Life Insurance Company lessened its holdings in shares of CONMED Corporation (NASDAQ:CNMD) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,755 shares of the medical technology company’s stock after selling 713 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of CONMED Corporation worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CNMD. UBS Asset Management Americas Inc. raised its holdings in shares of CONMED Corporation by 63.2% during the first quarter. UBS Asset Management Americas Inc. now owns 12,543 shares of the medical technology company’s stock worth $557,000 after purchasing an additional 4,859 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of CONMED Corporation by 3.8% during the first quarter. Teachers Advisors LLC now owns 46,825 shares of the medical technology company’s stock worth $2,079,000 after purchasing an additional 1,702 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of CONMED Corporation by 0.7% during the first quarter. Legal & General Group Plc now owns 45,381 shares of the medical technology company’s stock worth $2,013,000 after purchasing an additional 322 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of CONMED Corporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 2,268,882 shares of the medical technology company’s stock worth $100,761,000 after purchasing an additional 84,785 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CONMED Corporation by 9.2% during the first quarter. Geode Capital Management LLC now owns 211,542 shares of the medical technology company’s stock worth $9,394,000 after purchasing an additional 17,834 shares during the last quarter. 98.74% of the stock is owned by hedge funds and other institutional investors.

CONMED Corporation (CNMD) opened at $49.79 on Monday. CONMED Corporation has a fifty-two week low of $39.74 and a fifty-two week high of $54.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.56 and a quick ratio of 1.49. The firm has a market cap of $1,390.83, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.14 and a beta of 0.66.

CONMED Corporation (NASDAQ:CNMD) last released its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. CONMED Corporation had a net margin of 1.99% and a return on equity of 8.40%. The company had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $187.13 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. equities research analysts expect that CONMED Corporation will post 1.87 EPS for the current fiscal year.

Several research analysts recently issued reports on CNMD shares. KeyCorp reissued a “hold” rating on shares of CONMED Corporation in a report on Friday, August 25th. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of CONMED Corporation in a report on Friday, September 1st. Zacks Investment Research cut shares of CONMED Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $46.00 target price on shares of CONMED Corporation in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $50.33.

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In other CONMED Corporation news, EVP Luke A. Pomilio sold 29,363 shares of CONMED Corporation stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total value of $1,488,704.10. Following the completion of the transaction, the executive vice president now owns 45,486 shares of the company’s stock, valued at $2,306,140.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Luke A. Pomilio sold 10,020 shares of CONMED Corporation stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.57, for a total transaction of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The disclosure for this sale can be found here. Insiders sold 51,812 shares of company stock valued at $2,654,756 in the last ninety days. 2.62% of the stock is owned by corporate insiders.

CONMED Corporation Company 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.

Institutional Ownership by Quarter for CONMED Corporation (NASDAQ:CNMD)

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