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

CONMED Co. (NYSE:CNMD - Get Free Report) Director Barbara J. Schwarzentraub purchased 1,442 shares of the business's stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $69.26 per share, with a total value of $99,872.92. Following the completion of the transaction, the director now owns 1,442 shares of the company's stock, valued at $99,872.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

CONMED Stock Up 1.2 %

CONMED stock traded up $0.82 on Friday, hitting $71.16. 319,789 shares of the stock traded hands, compared to its average volume of 706,191. The business's fifty day simple moving average is $75.91 and its 200 day simple moving average is $91.70. The firm has a market cap of $2.19 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 0.67 and a beta of 1.37. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $138.47.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 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 for the quarter, compared to analyst estimates of $307.06 million. As a group, sell-side analysts forecast that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CNMD shares. Wells Fargo & Company lowered their price objective on CONMED from $98.00 to $77.00 and set an "equal weight" rating for the company 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 for the company in a research 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 research note on Monday. Finally, Piper Sandler reduced their price objective on shares of CONMED from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.86.

Institutional Investors Weigh In On CONMED

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in CONMED in the 4th quarter valued at approximately $40,000. Principal Securities Inc. bought a new position in shares of CONMED during the fourth quarter valued at $46,000. Headlands Technologies LLC purchased a new stake in shares of CONMED during the third quarter valued at $64,000. AdvisorNet Financial Inc raised its position in CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company's stock worth $144,000 after buying an additional 745 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in CONMED by 44.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company's stock valued at $179,000 after acquiring an additional 500 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.