Barbara J. Schwarzentraub Acquires 1,442 Shares of CONMED Co. (NYSE:CNMD) Stock

CONMED Co. (NYSE:CNMDGet Free Report) Director Barbara J. Schwarzentraub purchased 1,442 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average cost of $69.26 per share, with a total value of $99,872.92. Following the acquisition, the director now owns 1,442 shares in the company, valued at approximately $99,872.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CONMED Stock Up 1.2 %

Shares of NYSE CNMD opened at $71.16 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08. The company has a market cap of $2.19 billion, a P/E ratio of 27.26, a PEG ratio of 0.67 and a beta of 1.37. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $138.47. The firm has a 50-day simple moving average of $75.91 and a two-hundred day simple moving average of $91.68.

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, topping 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 the consensus estimate of $307.06 million. Research analysts anticipate that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNMD. JPMorgan Chase & Co. lowered their price target 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price target on shares of CONMED in a report on Monday, May 6th. Wells Fargo & Company lowered their price target 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. Finally, Piper Sandler lowered 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.86.

Read Our Latest Stock Report on CONMED

Institutional Trading of CONMED

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of CONMED during the fourth quarter valued at approximately $40,000. Principal Securities Inc. bought a new stake in shares of CONMED during the fourth quarter valued at approximately $46,000. Headlands Technologies LLC bought a new stake in shares of CONMED during the third quarter valued at approximately $64,000. Quadrant Capital Group LLC increased its holdings in CONMED by 44.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock valued at $179,000 after buying an additional 500 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in CONMED by 70.6% during the first quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after buying an additional 745 shares during the period.

About CONMED

(Get 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

Insider Buying and Selling by Quarter for CONMED (NYSE:CNMD)

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