CONMED Co. (NYSE:CNMD) COO Pat Beyer Acquires 3,000 Shares

CONMED Co. (NYSE:CNMD - Get Free Report) COO Pat Beyer bought 3,000 shares of the business's stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $68.30 per share, with a total value of $204,900.00. Following the completion of the purchase, the chief operating officer now owns 10,807 shares of the company's stock, valued at $738,118.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CONMED Stock Up 2.7 %

Shares of CNMD traded up $1.86 during mid-day trading on Thursday, hitting $70.20. 673,677 shares of the company's stock were exchanged, compared to its average volume of 594,330. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.47. The firm has a fifty day moving average of $77.25 and a two-hundred day moving average of $92.84. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 0.65 and a beta of 1.37.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $307.06 million. On average, sell-side analysts forecast that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The company 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 of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. CONMED's payout ratio is presently 30.65%.

Analysts Set New Price Targets

Several analysts recently commented on CNMD shares. JPMorgan Chase & Co. cut their target price on shares of CONMED from $115.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company cut their target price on shares of CONMED from $98.00 to $77.00 and set an "equal weight" rating for the company in a research report on Thursday, April 25th. Needham & Company LLC cut their target price on shares of CONMED from $129.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Finally, Piper Sandler dropped their price target on shares of CONMED from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.86.

Institutional Trading of CONMED

A number of hedge funds have recently bought and sold shares of the stock. Versor Investments LP bought a new position in shares of CONMED during the 3rd quarter worth about $475,000. Walleye Capital LLC acquired a new stake in shares of CONMED during the 3rd quarter worth approximately $5,691,000. Trexquant Investment LP acquired a new stake in shares of CONMED during the 3rd quarter worth approximately $2,534,000. California Public Employees Retirement System grew its holdings in CONMED by 14.9% during the third quarter. California Public Employees Retirement System now owns 49,065 shares of the company's stock valued at $4,948,000 after purchasing an additional 6,356 shares during the period. Finally, Fifth Third Bancorp grew its holdings in CONMED by 6.0% during the fourth quarter. Fifth Third Bancorp now owns 17,379 shares of the company's stock valued at $1,903,000 after purchasing an additional 987 shares during the period.

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.