CONMED Co. (NYSE:CNMD) Director Martha Goldberg Aronson Buys 2,000 Shares

CONMED Co. (NYSE:CNMD) Director Martha Goldberg Aronson bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $70.98 per share, with a total value of $141,960.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $141,960. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CONMED Stock Performance

Shares of NYSE CNMD traded down $2.25 during mid-day trading on Wednesday, reaching $69.40. 338,584 shares of the company were exchanged, compared to its average volume of 584,554. The company’s 50-day simple moving average is $76.49 and its 200-day simple moving average is $92.17. 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 capitalization of $2.14 billion, a P/E ratio of 27.45, a P/E/G ratio of 0.68 and a beta of 1.37. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.47.

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 analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.78%. As a group, research analysts predict that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 target price on shares of CONMED in a research report on Monday. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. cut their price target 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. Finally, Piper Sandler cut their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.86.

Hedge Funds Weigh In On CONMED

A number of hedge funds have recently bought and sold shares of the business. Capital Research Global Investors increased its holdings in CONMED by 11.8% in the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock valued at $301,931,000 after buying an additional 289,996 shares during the period. Eagle Asset Management Inc. increased its holdings in CONMED by 67.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 198,982 shares of the company’s stock valued at $20,067,000 after buying an additional 80,036 shares during the period. Sectoral Asset Management Inc. increased its holdings in CONMED by 150.5% in the 3rd quarter. Sectoral Asset Management Inc. now owns 114,000 shares of the company’s stock valued at $11,497,000 after buying an additional 68,500 shares during the period. Congress Asset Management Co. MA grew its holdings in shares of CONMED by 32.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 278,187 shares of the company’s stock valued at $28,055,000 after purchasing an additional 67,866 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its holdings in shares of CONMED by 672.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 77,248 shares of the company’s stock valued at $8,459,000 after purchasing an additional 67,248 shares during 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.