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

CONMED Co. (NYSE:CNMD) Director Martha Goldberg Aronson bought 2,000 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $70.98 per share, for a total transaction of $141,960.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $141,960. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CONMED Stock Performance

Shares of CONMED stock opened at $69.41 on Thursday. The company has a market capitalization of $2.14 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 0.68 and a beta of 1.37. The stock’s fifty day moving average is $76.28 and its two-hundred day moving average is $92.01. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $138.47. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 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 the consensus estimate of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.78%. As a group, analysts expect 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. Shareholders 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 of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio is presently 30.65%.

Institutional Trading of CONMED

A number of institutional investors and hedge funds have recently made changes to their positions in CNMD. Arizona State Retirement System grew its holdings in shares of CONMED by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after purchasing an additional 121 shares during the period. Olympiad Research LP raised its holdings in shares of CONMED by 5.9% in the 4th quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock valued at $264,000 after purchasing an additional 134 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in CONMED by 4.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock valued at $312,000 after buying an additional 140 shares in the last quarter. Franklin Resources Inc. lifted its stake in CONMED by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after purchasing an additional 140 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of CONMED by 2.7% in the 4th quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock valued at $646,000 after buying an additional 154 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNMD. 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. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company decreased their price objective 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $107.00 price target on shares of CONMED in a research note on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.86.

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.