CONMED Corporation $CNMD Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP decreased its stake in CONMED Corporation (NYSE:CNMD) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 699,073 shares of the company’s stock after selling 3,550 shares during the period. Cooke & Bieler LP owned 2.26% of CONMED worth $36,408,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Peregrine Capital Management LLC boosted its holdings in shares of CONMED by 3.5% in the 2nd quarter. Peregrine Capital Management LLC now owns 104,690 shares of the company’s stock valued at $5,452,000 after buying an additional 3,493 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in CONMED by 40.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the company’s stock worth $575,000 after purchasing an additional 3,178 shares during the period. Keeler Thomas Management LLC acquired a new stake in CONMED during the 2nd quarter worth $1,081,000. Caitong International Asset Management Co. Ltd acquired a new stake in CONMED during the 2nd quarter worth $48,000. Finally, Aurora Investment Counsel boosted its stake in CONMED by 39.3% during the 2nd quarter. Aurora Investment Counsel now owns 24,580 shares of the company’s stock worth $1,280,000 after purchasing an additional 6,930 shares during the period.

Insider Activity at CONMED

In other news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the sale, the director owned 14,859 shares in the company, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.80.

CONMED Stock Down 1.0%

CNMD stock opened at $44.04 on Friday. CONMED Corporation has a one year low of $42.50 and a one year high of $78.00. The stock has a market capitalization of $1.36 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The company has a fifty day moving average of $49.19 and a 200-day moving average of $52.03.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The company had revenue of $342.35 million during the quarter, compared to analysts’ expectations of $338.42 million. During the same quarter last year, the business earned $0.98 EPS. The business’s revenue was up 3.1% on a year-over-year basis. As a group, analysts expect that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, September 15th. CONMED’s dividend payout ratio (DPR) is 22.66%.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.