Diversified Trust Co Trims Holdings in CONMED Co. (NASDAQ:CNMD) – Tech Know Bits

Diversified Trust Co cut its stake in shares of CONMED Co. (NASDAQ:CNMD) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the medical technology companys stock after selling 675 shares during the period. Diversified Trust Cos holdings in CONMED were worth $503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of CONMED by 3.6% in the second quarter. Vanguard Group Inc. now owns 2,869,620 shares of the medical technology companys stock valued at $245,554,000 after purchasing an additional 100,779 shares during the period. Northern Trust Corp boosted its stake in shares of CONMED by 1.6% in the second quarter. Northern Trust Corp now owns 612,644 shares of the medical technology companys stock valued at $52,425,000 after purchasing an additional 9,671 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of CONMED by 194.7% in the third quarter. Eagle Asset Management Inc. now owns 358,231 shares of the medical technology companys stock valued at $34,443,000 after purchasing an additional 236,680 shares during the period. FMR LLC boosted its stake in shares of CONMED by 0.8% in the first quarter. FMR LLC now owns 293,909 shares of the medical technology companys stock valued at $24,447,000 after purchasing an additional 2,373 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in shares of CONMED in the second quarter valued at approximately $24,934,000.

Shares of NASDAQ:CNMD traded down $0.68 during trading on Friday, hitting $108.00. 259,173 shares of the company were exchanged, compared to its average volume of 258,247. The stock has a market capitalization of $3.08 billion, a P/E ratio of 108.00, a PEG ratio of 2.38 and a beta of 0.51. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.48 and a quick ratio of 1.40. CONMED Co. has a 12-month low of $66.90 and a 12-month high of $116.81. The firms 50 day moving average price is $110.88 and its 200-day moving average price is $102.01.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th were issued a $0.20 dividend. The ex-dividend date was Thursday, December 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.74%. CONMEDs payout ratio is 36.70%.

Several research analysts have recently commented on CNMD shares. ValuEngine lowered shares of CONMED from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of CONMED from a hold rating to a buy rating and set a $116.00 price target for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. began coverage on shares of CONMED in a research note on Tuesday, November 12th. They issued an overweight rating and a $136.00 price target for the company. BidaskClub downgraded shares of CONMED from a buy rating to a hold rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC downgraded shares of CONMED from a buy rating to a hold rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the companys stock. CONMED presently has a consensus rating of Buy and an average target price of $113.50.

In other news, VP John Jed Kennedy sold 11,354 shares of CONMED stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $114.01, for a total value of $1,294,469.54. Also, EVP Peter K. Shagory sold 1,820 shares of CONMED stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $109.34, for a total transaction of $198,998.80. Following the completion of the transaction, the executive vice president now directly owns 3,469 shares in the company, valued at $379,300.46. The disclosure for this sale can be found here. Insiders own 4.38% of the companys stock.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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Diversified Trust Co Trims Holdings in CONMED Co. (NASDAQ:CNMD) - Tech Know Bits