560 Shares in CONMED Co. (NYSE:CNMD) Bought by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. bought a new position in CONMED Co. (NYSE:CNMD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 560 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CNMD. Xponance Inc. acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $204,000. Handelsbanken Fonder AB lifted its position in shares of CONMED by 5.6% in the fourth quarter. Handelsbanken Fonder AB now owns 5,623 shares of the company’s stock worth $616,000 after purchasing an additional 300 shares in the last quarter. California Public Employees Retirement System increased its stake in CONMED by 5.8% in the 4th quarter. California Public Employees Retirement System now owns 51,911 shares of the company’s stock valued at $5,685,000 after buying an additional 2,846 shares during the period. New York State Common Retirement Fund lifted its position in CONMED by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 177,140 shares of the company’s stock worth $19,399,000 after buying an additional 1,333 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of CONMED during the 4th quarter valued at $40,000.

CONMED Price Performance

CNMD traded up $0.23 during midday trading on Thursday, reaching $68.14. 358,368 shares of the company’s stock were exchanged, compared to its average volume of 516,568. 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 firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. CONMED Co. has a one year low of $61.05 and a one year high of $117.27. The business has a 50-day simple moving average of $68.43 and a two-hundred day simple moving average of $74.05.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a return on equity of 14.12% and a net margin of 7.73%. The firm had revenue of $332.10 million during the quarter, compared to analysts’ expectations of $334.39 million. During the same period last year, the firm posted $0.83 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that CONMED Co. will post 3.99 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. CONMED’s dividend payout ratio (DPR) is currently 30.65%.

Analyst Ratings Changes

CNMD has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Needham & Company LLC reduced their price objective on shares of CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus lowered their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Piper Sandler lowered their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

Insider Transactions at CONMED

In other CONMED news, insider Stanley W. Peters III sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $71.82, for a total transaction of $287,280.00. Following the transaction, the insider now owns 63 shares in the company, valued at $4,524.66. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.80% of the stock is currently owned by corporate insiders.

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.