Quadrature Capital Ltd Buys 399 Shares of CONMED Co. (NYSE:CNMD)

Quadrature Capital Ltd raised its stake in shares of CONMED Co. (NYSE:CNMDFree Report) by 3.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,079 shares of the company’s stock after acquiring an additional 399 shares during the period. Quadrature Capital Ltd’s holdings in CONMED were worth $1,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 33,794 shares during the period. Capital Research Global Investors lifted its stake in shares of CONMED by 11.8% in the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock worth $301,931,000 after purchasing an additional 289,996 shares during the period. Walleye Capital LLC bought a new position in shares of CONMED in the 3rd quarter worth approximately $5,691,000. Victory Capital Management Inc. increased its holdings in CONMED by 24.9% in the 4th quarter. Victory Capital Management Inc. now owns 9,218 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,837 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in CONMED by 2.7% in the 4th quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after acquiring an additional 154 shares in the last quarter.

Wall Street Analysts Forecast Growth

CNMD has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of 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 shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Piper Sandler reduced their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $107.00 target price on shares of CONMED in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.50.

View Our Latest Stock Report on CONMED

Insider Activity at CONMED

In other CONMED news, Director Martha Goldberg Aronson bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $70.98 per share, with a total value of $141,960.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $141,960. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Pat Beyer purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was bought at an average cost 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 in the company, valued at $738,118.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martha Goldberg Aronson purchased 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $70.98 per share, with a total value of $141,960.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $141,960. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 6,442 shares of company stock valued at $446,733. 6.80% of the stock is owned by corporate insiders.

CONMED Trading Down 2.6 %

Shares of CNMD opened at $74.45 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $138.47. The company has a 50 day simple moving average of $73.76 and a two-hundred day simple moving average of $87.67. The firm has a market cap of $2.29 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 0.73 and a beta of 1.43.

CONMED (NYSE:CNMDGet Free Report) last announced its quarterly earnings data 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. 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 analyst estimates of $307.06 million. On average, equities analysts expect that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued 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 of this dividend is Friday, June 14th. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

About CONMED

(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.

See Also

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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