CONMED Co. (NYSE:CNMD) Shares Purchased by Strs Ohio

Strs Ohio increased its stake in shares of CONMED Co. (NYSE:CNMD) by 5.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 64,791 shares of the company’s stock after acquiring an additional 3,200 shares during the period. Strs Ohio’s holdings in CONMED were worth $7,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Belpointe Asset Management LLC increased its holdings in CONMED by 586.7% during the 1st quarter. Belpointe Asset Management LLC now owns 309 shares of the company’s stock worth $32,000 after purchasing an additional 264 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CONMED during the 3rd quarter worth approximately $64,000. Tower Research Capital LLC TRC increased its holdings in CONMED by 712.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 764 shares of the company’s stock worth $79,000 after purchasing an additional 670 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in CONMED by 30.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,055 shares of the company’s stock worth $106,000 after purchasing an additional 248 shares during the last quarter. Finally, Ronald Blue Trust Inc. increased its holdings in CONMED by 445.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,506 shares of the company’s stock worth $152,000 after purchasing an additional 1,230 shares during the last quarter.

Analysts Set New Price Targets

CNMD has been the topic of several analyst reports. Wells Fargo & Company dropped their price objective on CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. Needham & Company LLC boosted their price target on CONMED from $119.00 to $129.00 and gave the company a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered their price target on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Finally, Piper Sandler lowered their price target on CONMED from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, CONMED has a consensus rating of “Moderate Buy” and a consensus price target of $120.43.

CONMED Trading Down 6.0 %

Shares of CNMD stock opened at $72.80 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98. CONMED Co. has a 1 year low of $72.66 and a 1 year high of $138.47. The stock has a fifty day moving average of $80.18 and a two-hundred day moving average of $94.82. The firm has a market capitalization of $2.24 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 0.68 and a beta of 1.33.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The business had revenue of $327.05 million for the quarter, compared to analyst estimates of $332.94 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. As a group, research analysts expect that CONMED Co. will post 4.34 EPS for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. CONMED’s dividend payout ratio (DPR) is 39.22%.

CONMED Company Profile

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.