1,971 Shares in CONMED Co. (NYSE:CNMD) Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. acquired a new position in CONMED Co. (NYSE:CNMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,971 shares of the company’s stock, valued at approximately $216,000.

Several other large investors also recently added to or reduced their stakes in CNMD. Raymond James & Associates increased its holdings in CONMED by 2.6% in the 3rd quarter. Raymond James & Associates now owns 82,959 shares of the company’s stock worth $8,366,000 after acquiring an additional 2,131 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings 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 acquiring an additional 140 shares during the last quarter. Advisor Partners II LLC increased its holdings in CONMED by 93.8% in the 3rd quarter. Advisor Partners II LLC now owns 2,932 shares of the company’s stock worth $296,000 after acquiring an additional 1,419 shares during the last quarter. Park Avenue Securities LLC purchased a new position in CONMED during the 3rd quarter valued at about $273,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in CONMED by 1,598.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,723 shares of the company’s stock valued at $577,000 after buying an additional 5,386 shares in the last quarter.

CONMED Stock Performance

Shares of CNMD opened at $69.40 on Thursday. The company has a market cap of $2.14 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 0.68 and a beta of 1.37. 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 stock has a 50-day moving average price of $76.28 and a 200-day moving average price of $92.01. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $138.47.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. As a group, equities analysts forecast that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. CONMED’s payout ratio is 30.65%.

Insider Buying and Selling

In other news, Director Martha Goldberg Aronson bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $141,960. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Martha Goldberg Aronson bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $141,960. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Pat Beyer bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $68.30 per share, with a total value of $204,900.00. Following the transaction, the chief operating officer now directly owns 10,807 shares in the company, valued at $738,118.10. The disclosure for this purchase can be found here. 6.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNMD has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 target price on shares of CONMED in a report on Monday. JPMorgan Chase & Co. reduced their target price on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company reduced their target price on CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, Piper Sandler reduced their target price on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.86.

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.