Huber Capital Management LLC trimmed its position in shares of CONMED Co. (NASDAQ:CNMD) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,734 shares of the medical technology company’s stock after selling 8,600 shares during the period. Huber Capital Management LLC owned 0.63% of CONMED worth $9,008,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in shares of CONMED by 3.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after purchasing an additional 64 shares during the period. Quantbot Technologies LP bought a new stake in CONMED in the 3rd quarter valued at $133,000. Amalgamated Bank bought a new stake in CONMED in the 4th quarter valued at $200,000. Crossmark Global Holdings Inc. bought a new stake in CONMED in the 3rd quarter valued at $281,000. Finally, Koch Industries Inc. bought a new stake in CONMED in the 4th quarter valued at $275,000. Hedge funds and other institutional investors own 99.57% of the company’s stock.
CONMED Co. (NASDAQ:CNMD) traded up $0.20 during mid-day trading on Wednesday, hitting $64.51. 146,279 shares of the company were exchanged, compared to its average volume of 184,744. CONMED Co. has a 52-week low of $40.54 and a 52-week high of $64.99. The stock has a market cap of $1,775.88, a PE ratio of 32.75, a PEG ratio of 2.58 and a beta of 0.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.44 and a current ratio of 2.38.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. CONMED’s payout ratio is 40.61%.
CNMD has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $58.00 price objective on shares of CONMED in a research note on Friday, November 17th. BidaskClub cut shares of CONMED from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research cut shares of CONMED from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $59.00.
In other news, VP Terence M. Berge sold 3,868 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.45, for a total value of $241,556.60. Following the completion of the sale, the vice president now owns 19,908 shares in the company, valued at approximately $1,243,254.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Luke A. Pomilio sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.25, for a total transaction of $118,210.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,473 shares of company stock valued at $2,874,693 in the last quarter. 2.62% of the stock is currently owned by company insiders.
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CONMED 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.
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