Great Lakes Advisors LLC Has $8.99 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Great Lakes Advisors LLC reduced its stake in shares of CONMED Co. (NYSE:CNMD) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 129,656 shares of the company’s stock after selling 693 shares during the period. Great Lakes Advisors LLC owned approximately 0.42% of CONMED worth $8,988,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of CONMED by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock worth $78,010,000 after acquiring an additional 33,794 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of CONMED by 29.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock valued at $3,811,000 after purchasing an additional 10,736 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of CONMED in the first quarter valued at about $673,000. Mountain Pacific Investment Advisers Inc. ID boosted its position in shares of CONMED by 29.0% during the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 248,304 shares of the company’s stock worth $19,884,000 after buying an additional 55,878 shares during the period. Finally, Duality Advisers LP grew its holdings in shares of CONMED by 149.5% during the first quarter. Duality Advisers LP now owns 18,541 shares of the company’s stock worth $1,485,000 after buying an additional 11,110 shares in the last quarter.

CONMED Stock Performance

NYSE CNMD opened at $74.17 on Friday. The firm has a market capitalization of $2.28 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.46. The company has a current ratio of 2.34, a quick ratio of 1.13 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average price is $69.32 and its two-hundred day moving average price is $73.10. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $117.27.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The company had revenue of $332.10 million for the quarter, compared to analysts’ expectations of $334.39 million. During the same period in the prior year, the firm earned $0.83 EPS. CONMED’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that CONMED Co. will post 3.99 EPS for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.08%. CONMED’s dividend payout ratio is currently 30.65%.

Wall Street Analyst Weigh In

Several research firms have commented on CNMD. Wells Fargo & Company cut their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus reduced their target price on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. StockNews.com upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC reduced their price objective on shares of CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Piper Sandler decreased their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CONMED currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.

Insider Buying and Selling

In other CONMED news, insider Stanley W. Peters III sold 4,000 shares of CONMED stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.82, for a total transaction of $287,280.00. Following the completion of the transaction, the insider now directly owns 63 shares of the company’s stock, valued at $4,524.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.80% of the stock is owned by insiders.

CONMED Profile

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.