CONMED Co. (NYSE:CNMD) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its holdings in CONMED Co. (NYSE:CNMD) by 4.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,095 shares of the company’s stock after acquiring an additional 169 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CONMED were worth $448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNMD. GAMMA Investing LLC acquired a new position in shares of CONMED in the fourth quarter valued at approximately $40,000. Principal Securities Inc. acquired a new position in CONMED during the 4th quarter worth approximately $46,000. Headlands Technologies LLC purchased a new position in shares of CONMED during the 3rd quarter worth approximately $64,000. Xponance Inc. acquired a new stake in shares of CONMED in the 4th quarter valued at approximately $204,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of CONMED in the fourth quarter valued at approximately $216,000.

CONMED Stock Up 0.1 %

CNMD opened at $74.96 on Thursday. The firm has a market cap of $2.31 billion, a P/E ratio of 28.72, a PEG ratio of 0.72 and a beta of 1.37. The business’s fifty day simple moving average is $74.28 and its 200 day simple moving average is $90.41. 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 released its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The company had revenue of $312.27 million for the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.78%. As a group, equities research analysts anticipate that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio is presently 30.65%.

Insider Transactions at CONMED

In other CONMED news, COO Pat Beyer purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average cost of $68.30 per share, with a total value of $204,900.00. Following the purchase, the chief operating officer now owns 10,807 shares in the company, valued at $738,118.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Pat Beyer purchased 3,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was bought at an average cost of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the purchase, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at approximately $738,118.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara J. Schwarzentraub acquired 1,442 shares of CONMED stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $69.26 per share, for a total transaction of $99,872.92. Following the completion of the purchase, the director now directly owns 1,442 shares in the company, valued at $99,872.92. The disclosure for this purchase can be found here. Insiders have acquired 6,442 shares of company stock worth $446,733 over the last quarter. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CNMD has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $107.00 target price on shares of CONMED in a research report on Monday, May 6th. Piper Sandler lowered their target price on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. 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 research note on Thursday, April 25th. Finally, Wells Fargo & Company lowered 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 note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

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.