Pat Beyer Buys 3,000 Shares of CONMED Co. (NYSE:CNMD) Stock

CONMED Co. (NYSE:CNMD) COO Pat Beyer acquired 3,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the transaction, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at $738,118.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CONMED Stock Up 2.3 %

Shares of NYSE CNMD opened at $71.76 on Friday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 0.65 and a beta of 1.37. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $138.47. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm’s 50-day moving average price is $77.03 and its 200-day moving average price is $92.68.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. CONMED had a return on equity of 13.78% and a net margin of 6.53%. The firm had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. On average, equities research analysts anticipate that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler lowered their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company cut their target price on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Finally, Needham & Company LLC decreased their price target on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and an average target price of $107.86.

Hedge Funds Weigh In On CONMED

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of CONMED by 1.4% in the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after buying an additional 121 shares during the period. Olympiad Research LP grew its holdings in shares of CONMED by 5.9% in the fourth quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock worth $264,000 after purchasing an additional 134 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in CONMED by 4.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock worth $312,000 after buying an additional 140 shares during the period. Franklin Resources Inc. increased its stake in CONMED by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after buying an additional 140 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in CONMED by 2.7% during the 4th quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock valued at $646,000 after buying an additional 154 shares in the last quarter.

About CONMED

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.