Louisiana State Employees Retirement System held its stake in shares of CONMED Corporation (NASDAQ:CNMD) during the second quarter, Holdings Channel reports. The fund owned 10,100 shares of the medical technology company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in CONMED Corporation were worth $514,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of CONMED Corporation by 46,036.5% in the first quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock worth $140,043,000 after buying an additional 3,146,592 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of CONMED Corporation during the first quarter worth $1,773,000. Virginia Retirement Systems ET AL acquired a new stake in shares of CONMED Corporation during the first quarter worth $1,115,000. Nationwide Fund Advisors increased its stake in shares of CONMED Corporation by 206.8% in the first quarter. Nationwide Fund Advisors now owns 62,671 shares of the medical technology company’s stock worth $2,783,000 after buying an additional 42,244 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of CONMED Corporation by 4.1% in the first quarter. Comerica Bank now owns 27,528 shares of the medical technology company’s stock worth $1,354,000 after buying an additional 1,080 shares during the last quarter. Hedge funds and other institutional investors own 99.75% of the company’s stock.
Shares of CONMED Corporation (CNMD) traded down 0.49% during mid-day trading on Friday, reaching $49.17. The company’s stock had a trading volume of 30,025 shares. CONMED Corporation has a 12 month low of $37.60 and a 12 month high of $52.82. The company’s 50-day moving average is $50.42 and its 200 day moving average is $47.24. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 87.96 and a beta of 0.67.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The business had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $194.50 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, equities analysts anticipate that CONMED Corporation will post $1.87 EPS for the current year.
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A number of analysts have weighed in on CNMD shares. BidaskClub downgraded CONMED Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded CONMED Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Needham & Company LLC increased their price target on CONMED Corporation from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Ladenburg Thalmann Financial Services downgraded CONMED Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $50.00 to $48.00 in a report on Thursday, April 27th. Finally, TheStreet upgraded CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. CONMED Corporation has an average rating of “Hold” and a consensus target price of $49.33.
In other CONMED Corporation news, Director Dirk Kuyper sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total value of $52,240.00. Following the sale, the director now owns 10,739 shares in the company, valued at $561,005.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Jonas sold 3,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $51.22, for a total transaction of $153,660.00. Following the completion of the sale, the executive vice president now owns 14,455 shares in the company, valued at approximately $740,385.10. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by corporate insiders.
About CONMED Corporation
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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