Simplex Trading LLC boosted its stake in shares of CONMED Co. (NYSE:CNMD – Get Rating) by 6.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,189 shares of the company's stock after purchasing an additional 135 shares during the period. Simplex Trading LLC's holdings in CONMED were worth $325,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in CONMED by 113.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 194 shares of the company's stock valued at $28,000 after purchasing an additional 103 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in CONMED during the fourth quarter valued at approximately $32,000. Fifth Third Bancorp grew its position in CONMED by 42.4% during the fourth quarter. Fifth Third Bancorp now owns 252 shares of the company's stock valued at $36,000 after purchasing an additional 75 shares in the last quarter. Advisor Partners LLC purchased a new position in CONMED during the first quarter valued at approximately $202,000. Finally, Alberta Investment Management Corp purchased a new position in CONMED during the fourth quarter valued at approximately $228,000.
Get CONMED alerts:Analysts Set New Price Targets
Several analysts have commented on CNMD shares. Stifel Nicolaus decreased their target price on shares of CONMED from $160.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, June 23rd. Piper Sandler decreased their target price on shares of CONMED from $160.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, July 28th. Needham & Company LLC decreased their target price on shares of CONMED from $155.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, July 28th. Finally, TheStreet downgraded shares of CONMED from a "b-" rating to a "c+" rating in a research report on Tuesday, June 21st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, CONMED presently has an average rating of "Moderate Buy" and a consensus price target of $118.33.
Insider Buying and Selling
In related news, Director Jerome J. Lande sold 6,000 shares of the company's stock in a transaction on Friday, May 13th. The shares were sold at an average price of $115.42, for a total transaction of $692,520.00. Following the completion of the sale, the director now directly owns 3,928 shares of the company's stock, valued at approximately $453,369.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Jerome J. Lande sold 6,000 shares of the company's stock in a transaction on Friday, May 13th. The shares were sold at an average price of $115.42, for a total transaction of $692,520.00. Following the completion of the transaction, the director now directly owns 3,928 shares in the company, valued at approximately $453,369.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jerome J. Lande sold 1,521 shares of the company's stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $117.00, for a total transaction of $177,957.00. Following the transaction, the director now owns 2,407 shares of the company's stock, valued at $281,619. The disclosure for this sale can be found here. In the last three months, insiders sold 10,183 shares of company stock valued at $1,136,118. Company insiders own 1.10% of the company's stock.CONMED Price Performance
NYSE CNMD opened at $97.01 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $99.05 and a 200 day simple moving average of $123.08. The company has a market cap of $2.96 billion, a P/E ratio of 50.01, a P/E/G ratio of 3.19 and a beta of 1.53. CONMED Co. has a 1 year low of $87.24 and a 1 year high of $159.11.
CONMED (NYSE:CNMD – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. The business had revenue of $277.20 million during the quarter, compared to the consensus estimate of $274.22 million. CONMED had a net margin of 6.19% and a return on equity of 13.20%. CONMED's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, sell-side analysts predict that CONMED Co. will post 3.7 EPS for the current year.
CONMED Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Tuesday, June 14th. CONMED's dividend payout ratio is currently 41.24%.
CONMED Company Profile
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CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.
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