CONMED Co. (NYSE:CNMD - Get Free Report) Director Martha Goldberg Aronson purchased 2,000 shares of the business's stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $70.98 per share, with a total value of $141,960.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company's stock, valued at $141,960. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
CONMED Stock Performance
CONMED stock opened at $69.41 on Thursday. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $138.47. The stock has a 50-day simple moving average of $76.28 and a 200 day simple moving average of $92.01. 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 price-to-earnings ratio of 26.59, a P/E/G ratio of 0.68 and a beta of 1.37.
CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating 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 analysts' expectations of $307.06 million. On average, research analysts anticipate that CONMED Co. will post 4.3 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. CONMED's payout ratio is 30.65%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its stake in shares of CONMED by 2.6% during the third quarter. Raymond James & Associates now owns 82,959 shares of the company's stock worth $8,366,000 after buying an additional 2,131 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of CONMED by 4.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company's stock worth $312,000 after purchasing an additional 140 shares during the period. Advisor Partners II LLC increased its holdings in CONMED by 93.8% in the third quarter. Advisor Partners II LLC now owns 2,932 shares of the company's stock valued at $296,000 after purchasing an additional 1,419 shares during the last quarter. Park Avenue Securities LLC bought a new stake in CONMED in the third quarter valued at about $273,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in CONMED by 1,598.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,723 shares of the company's stock valued at $577,000 after buying an additional 5,386 shares during the period.
Analyst Ratings Changes
CNMD has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of CONMED from $98.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $107.00 price objective on shares of CONMED in a research report on Monday. JPMorgan Chase & Co. cut their price target on CONMED from $115.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, April 25th. Finally, Piper Sandler dropped their price objective on CONMED from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $107.86.
Read Our Latest Research Report on CNMD
About CONMED
(
Get 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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