CONMED Co. (NYSE:CNMD) Director Buys $99,872.92 in Stock

CONMED Co. (NYSE:CNMD) Director Barbara J. Schwarzentraub bought 1,442 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $69.26 per share, with a total value of $99,872.92. Following the transaction, the director now directly owns 1,442 shares in the company, valued at $99,872.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

CONMED Price Performance

Shares of CNMD stock opened at $71.16 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18. The firm has a market cap of $2.19 billion, a P/E ratio of 27.26, a P/E/G ratio of 0.68 and a beta of 1.37. The business’s 50 day moving average price is $75.91 and its 200-day moving average price is $91.68. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $138.47.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $312.27 million for the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. On average, equities research analysts anticipate that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, March 14th. CONMED’s payout ratio is currently 30.65%.

Analyst Ratings Changes

CNMD has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company cut their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $107.00 target price on shares of CONMED in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Two 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 an average target price of $107.86.

Institutional Trading of CONMED

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in CONMED by 1.1% in the first quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock worth $276,823,000 after acquiring an additional 36,823 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of CONMED by 11.8% during the fourth quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock valued at $301,931,000 after buying an additional 289,996 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of CONMED by 2.0% in the 3rd quarter. Earnest Partners LLC now owns 2,265,092 shares of the company’s stock worth $228,435,000 after purchasing an additional 44,076 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CONMED by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock worth $78,010,000 after buying an additional 33,794 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in CONMED by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 611,224 shares of the company’s stock valued at $48,947,000 after acquiring an additional 10,890 shares during the period.

CONMED Company Profile

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.