Moran Wealth Management LLC bought a new position in shares of CONMED Corporation (NYSE:CNMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,276 shares of the company's stock, valued at approximately $5,029,000. Moran Wealth Management LLC owned 0.27% of CONMED as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. grew its position in shares of CONMED by 49.5% during the first quarter. Blue Trust Inc. now owns 5,140 shares of the company's stock worth $310,000 after acquiring an additional 1,702 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of CONMED by 7.0% during the first quarter. QRG Capital Management Inc. now owns 5,326 shares of the company's stock worth $322,000 after acquiring an additional 350 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of CONMED by 2.3% during the first quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after acquiring an additional 217 shares during the last quarter. GAMMA Investing LLC grew its position in shares of CONMED by 81.4% during the first quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock worth $80,000 after acquiring an additional 591 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of CONMED during the first quarter worth about $1,289,000.
Insider Activity
In other news, Director Charles Farkas sold 4,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the transaction, the director now owns 16,346 shares in the company, valued at approximately $930,741.24. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.10% of the company's stock.
CONMED Price Performance
Shares of CONMED stock traded down $0.33 on Friday, hitting $52.01. The company had a trading volume of 1,210,977 shares, compared to its average volume of 445,505. The business has a 50-day simple moving average of $55.18 and a 200-day simple moving average of $60.58. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.26 and a quick ratio of 1.00. The company has a market cap of $1.61 billion, a PE ratio of 13.69, a PEG ratio of 1.34 and a beta of 1.24. CONMED Corporation has a 52 week low of $46.00 and a 52 week high of $78.19.
CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to analysts' expectations of $313.38 million. CONMED had a net margin of 9.02% and a return on equity of 14.36%. The business's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. Research analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.
CONMED Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. CONMED's dividend payout ratio (DPR) is 21.05%.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus lowered shares of CONMED from a "buy" rating to a "hold" rating and lowered their price target for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC lowered shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target for the company. in a research report on Thursday, June 12th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $62.20.
Get Our Latest Report on CNMD
CONMED 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.
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