CONMED Co. (NYSE:CNMD) Director Purchases $141,960.00 in Stock

CONMED Co. (NYSE:CNMD) Director Martha Goldberg Aronson purchased 2,000 shares of the stock in a transaction on Monday, May 6th. The shares were purchased 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 $141,960. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

CONMED Trading Down 3.1 %

Shares of NYSE:CNMD traded down $2.25 on Wednesday, reaching $69.40. 338,584 shares of the company traded hands, compared to its average volume of 584,554. 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 market capitalization of $2.14 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 0.68 and a beta of 1.37. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $138.47. The business’s 50-day simple moving average is $76.49 and its 200 day simple moving average is $92.17.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The company 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%. As a group, equities analysts anticipate that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNMD. Piper Sandler lowered their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered 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. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price objective on shares of CONMED in a research note on Monday. Finally, Wells Fargo & Company reduced their price objective 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 six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.86.

Institutional Trading of CONMED

Several large investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in shares of CONMED by 1.4% in the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after purchasing an additional 121 shares during the last quarter. Olympiad Research LP boosted its position in CONMED by 5.9% during the 4th quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock valued at $264,000 after acquiring an additional 134 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in CONMED by 4.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock valued at $312,000 after acquiring an additional 140 shares in the last quarter. Franklin Resources Inc. boosted its position in CONMED by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock valued at $1,639,000 after acquiring an additional 140 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in 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 acquiring an additional 154 shares in the last quarter.

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.