BlackRock Institutional Trust Company N.A. boosted its stake in shares of Conmed Corp. (NASDAQ:CNMD) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 669,687 shares of the medical technology company’s stock after buying an additional 3,201 shares during the period. BlackRock Institutional Trust Company N.A. owned approximately 2.42% of Conmed Corp. worth $28,087,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Group LTD increased its position in Conmed Corp. by 1.2% in the first quarter. BlackRock Group LTD now owns 194,018 shares of the medical technology company’s stock valued at $8,137,000 after buying an additional 2,308 shares during the last quarter. BlackRock Inc. increased its position in Conmed Corp. by 2.7% in the first quarter. BlackRock Inc. now owns 38,846 shares of the medical technology company’s stock valued at $1,629,000 after buying an additional 1,035 shares during the last quarter. Prudential Financial Inc. increased its position in Conmed Corp. by 3.1% in the first quarter. Prudential Financial Inc. now owns 62,057 shares of the medical technology company’s stock valued at $2,603,000 after buying an additional 1,850 shares during the last quarter. Virginia Retirement System purchased a new position in Conmed Corp. during the first quarter valued at approximately $1,241,000. Finally, Aperio Group LLC purchased a new position in Conmed Corp. during the first quarter valued at approximately $255,000.
Shares of Conmed Corp. (NASDAQ:CNMD) traded up 0.46% during midday trading on Tuesday, hitting $48.36. The company had a trading volume of 135,212 shares. The firm has a market capitalization of $1.34 billion and a P/E ratio of 61.92. The stock has a 50 day moving average price of $46.33 and a 200 day moving average price of $41.78. Conmed Corp. has a 1-year low of $35.51 and a 1-year high of $57.96.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th were paid a $0.20 dividend. The ex-dividend date was Monday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.65%.
Several research firms recently commented on CNMD. Zacks Investment Research downgraded Conmed Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Leerink Swann restated a “buy” rating on shares of Conmed Corp. in a research report on Thursday, April 28th. Finally, Needham & Company LLC increased their target price on Conmed Corp. from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Conmed Corp. has a consensus rating of “Buy” and an average target price of $49.83.
In other news, CFO Luke A. Pomilio sold 4,400 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $41.56, for a total value of $182,864.00. Following the sale, the chief financial officer now owns 41,884 shares in the company, valued at $1,740,699.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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. Its products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
