Rothschild Asset Management Inc. raised its stake in shares of CONMED Corporation (NASDAQ:CNMD) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 35,232 shares of the medical technology company’s stock after buying an additional 107 shares during the period. Rothschild Asset Management Inc. owned 0.13% of CONMED Corporation worth $1,795,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in CONMED Corporation during the first quarter valued at approximately $106,000. State of Alaska Department of Revenue boosted its stake in CONMED Corporation by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock valued at $121,000 after buying an additional 50 shares during the period. Karp Capital Management Corp acquired a new stake in CONMED Corporation during the first quarter valued at approximately $202,000. Oppenheimer Asset Management Inc. acquired a new stake in CONMED Corporation during the first quarter valued at approximately $203,000. Finally, Pillar Pacific Capital Management LLC acquired a new stake in CONMED Corporation during the second quarter valued at approximately $229,000. 99.95% of the stock is currently owned by institutional investors.
CONMED Corporation (CNMD) traded down 0.76% on Friday, reaching $48.60. The company’s stock had a trading volume of 295,471 shares. CONMED Corporation has a 1-year low of $37.60 and a 1-year high of $52.82. The firm’s 50 day moving average price is $50.18 and its 200-day moving average price is $47.50. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 86.94 and a beta of 0.67.
CONMED Corporation (NASDAQ:CNMD) last posted its quarterly earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $197.20 million for the quarter, compared to the consensus estimate of $194.50 million. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. Equities analysts forecast that CONMED Corporation will post $1.87 earnings per share for the current year.
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Several research firms recently commented on CNMD. Needham & Company LLC increased their price objective on CONMED Corporation from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. BidaskClub raised CONMED Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. TheStreet raised CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Ladenburg Thalmann Financial Services downgraded CONMED Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the company from $50.00 to $48.00 in a report on Thursday, April 27th. Finally, Zacks Investment Research raised CONMED Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $49.33.
In other CONMED Corporation news, Director Jo Ann Golden sold 3,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the director now owns 19,782 shares in the company, valued at approximately $989,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dirk Kuyper sold 1,000 shares of the business’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 approximately $561,005.36. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by 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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