Campbell & CO Investment Adviser LLC Has $748,000 Position in CONMED Co. (NYSE:CNMD)

Campbell & CO Investment Adviser LLC cut its position in CONMED Co. (NYSE:CNMDFree Report) by 68.2% during the 4th quarter, HoldingsChannel reports. The firm owned 6,828 shares of the company’s stock after selling 14,644 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in CONMED were worth $748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olympiad Research LP increased its position in shares of CONMED by 5.9% in the 4th quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock valued at $264,000 after buying an additional 134 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CONMED by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after purchasing an additional 140 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 154 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in CONMED by 4.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,095 shares of the company’s stock worth $448,000 after purchasing an additional 169 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in CONMED by 1.4% during the 4th quarter. Bahl & Gaynor Inc. now owns 15,434 shares of the company’s stock worth $1,690,000 after buying an additional 207 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler reduced their price target 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. JPMorgan Chase & Co. dropped their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $107.00 price objective on shares of CONMED in a report on Monday, May 6th. Finally, Wells Fargo & Company cut their target price on CONMED from $98.00 to $77.00 and set an “equal weight” 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 five 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 price target of $102.50.

Get Our Latest Stock Analysis on CONMED

CONMED Stock Down 1.1 %

CNMD stock opened at $76.99 on Friday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 0.74 and a beta of 1.43. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.47. The business has a 50 day moving average price of $73.92 and a two-hundred day moving average price of $88.41. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16.

CONMED (NYSE:CNMDGet Free Report) last released its earnings results 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. CONMED had a net margin of 6.53% and a return on equity of 13.78%. The business had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. 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 will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.04%. CONMED’s payout ratio is 30.65%.

Insider Activity at CONMED

In other CONMED news, COO Pat Beyer acquired 3,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the purchase, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at $738,118.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Pat Beyer acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $68.30 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martha Goldberg Aronson bought 2,000 shares of CONMED stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $70.98 per share, with a total value of $141,960.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $141,960. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 6,442 shares of company stock worth $446,733. Insiders own 6.80% of the company’s stock.

CONMED Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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