369 Shares in CONMED Co. (NYSE:CNMD) Purchased by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in CONMED Co. (NYSE:CNMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 369 shares of the company’s stock, valued at approximately $40,000.

Other institutional investors have also recently bought and sold shares of the company. Versor Investments LP acquired a new position in shares of CONMED in the 3rd quarter valued at about $475,000. Walleye Capital LLC purchased a new stake in CONMED in the 3rd quarter worth approximately $5,691,000. Trexquant Investment LP acquired a new stake in shares of CONMED during the 3rd quarter valued at $2,534,000. California Public Employees Retirement System grew its holdings in shares of CONMED by 14.9% during the 3rd quarter. California Public Employees Retirement System now owns 49,065 shares of the company’s stock valued at $4,948,000 after acquiring an additional 6,356 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of CONMED by 6.0% in the fourth quarter. Fifth Third Bancorp now owns 17,379 shares of the company’s stock worth $1,903,000 after acquiring an additional 987 shares during the last quarter.

CONMED Stock Performance

Shares of NYSE CNMD opened at $71.76 on Friday. The business’s 50-day simple moving average is $77.03 and its 200-day simple moving average is $92.68. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $138.47. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 0.65 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. CONMED had a return on equity of 13.78% and a net margin of 6.53%. The firm had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. As a group, equities research analysts expect that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.11%. CONMED’s payout ratio is 30.65%.

Insider Activity at CONMED

In other CONMED news, COO Pat Beyer bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the purchase, the chief operating officer now directly owns 10,807 shares in the company, valued at $738,118.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNMD shares. Needham & Company LLC reduced their price objective on CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Piper Sandler lowered their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company cut 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, JPMorgan Chase & Co. decreased their target price on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CONMED presently 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.