Dynamic Technology Lab Private Ltd Acquires 4,371 Shares of CONMED Co. (NYSE:CNMD)

Dynamic Technology Lab Private Ltd boosted its holdings in CONMED Co. (NYSE:CNMD) by 208.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,471 shares of the company’s stock after acquiring an additional 4,371 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in CONMED were worth $709,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its position in shares of CONMED by 67.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 198,982 shares of the company’s stock valued at $20,067,000 after purchasing an additional 80,036 shares during the last quarter. Sectoral Asset Management Inc. increased its position in shares of CONMED by 150.5% during the 3rd quarter. Sectoral Asset Management Inc. now owns 114,000 shares of the company’s stock valued at $11,497,000 after purchasing an additional 68,500 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of CONMED during the 3rd quarter valued at about $6,696,000. Tudor Investment Corp Et Al increased its position in shares of CONMED by 398.0% during the 3rd quarter. Tudor Investment Corp Et Al now owns 78,426 shares of the company’s stock valued at $7,909,000 after purchasing an additional 62,677 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in CONMED by 79.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 134,849 shares of the company’s stock valued at $13,600,000 after acquiring an additional 59,546 shares during the period.

Insider Activity

In other news, Director Martha Goldberg Aronson bought 2,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 2,000 shares in the company, valued at approximately $141,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Martha Goldberg Aronson bought 2,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 2,000 shares in the company, valued at approximately $141,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara J. Schwarzentraub bought 1,442 shares of the stock in a transaction dated 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 purchase, the director now owns 1,442 shares in the company, valued at $99,872.92. The disclosure for this purchase can be found here. Insiders bought a total of 6,442 shares of company stock worth $446,733 in the last quarter. 6.80% of the stock is owned by company insiders.

CONMED Trading Up 0.1 %

NYSE CNMD opened at $74.96 on Thursday. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $138.47. 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 stock has a 50 day simple moving average of $74.28 and a two-hundred day simple moving average of $90.41. The stock has a market cap of $2.31 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37.

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

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, March 14th. CONMED’s payout ratio is presently 30.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNMD shares. JPMorgan Chase & Co. dropped 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. Needham & Company LLC restated a “buy” rating and set a $107.00 target price on shares of CONMED in a report on Monday, May 6th. Piper Sandler dropped 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. Finally, Wells Fargo & Company dropped 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CONMED currently has an average rating of “Moderate Buy” and an average price target of $102.50.

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.