AdvisorNet Financial Inc Buys 745 Shares of CONMED Co. (NYSE:CNMD)

AdvisorNet Financial Inc raised its stake in shares of CONMED Co. (NYSE:CNMD) by 70.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,800 shares of the company’s stock after acquiring an additional 745 shares during the quarter. AdvisorNet Financial Inc’s holdings in CONMED were worth $144,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors raised its position in CONMED by 11.8% in the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock valued at $301,931,000 after purchasing an additional 289,996 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of CONMED by 2.0% in the third quarter. Earnest Partners LLC now owns 2,265,092 shares of the company’s stock valued at $228,435,000 after buying an additional 44,076 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in CONMED by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock worth $78,010,000 after buying an additional 33,794 shares in the last quarter. Northern Trust Corp grew its holdings in CONMED by 0.3% during the 3rd quarter. Northern Trust Corp now owns 339,332 shares of the company’s stock worth $34,222,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Ranger Investment Management L.P. increased its position in CONMED by 0.5% in the 4th quarter. Ranger Investment Management L.P. now owns 336,549 shares of the company’s stock valued at $36,855,000 after acquiring an additional 1,675 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on CNMD shares. Needham & Company LLC reissued a “buy” rating and set a $107.00 price target on shares of CONMED in a research note on Monday, May 6th. Wells Fargo & Company decreased their price objective on CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Piper Sandler dropped their target price on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CONMED presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

CONMED Stock Performance

CNMD stock opened at $67.58 on Thursday. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.29. 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 company has a market cap of $2.08 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business’s fifty day moving average is $71.92 and its 200-day moving average is $84.54.

CONMED (NYSE:CNMD) last released 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. The firm had revenue of $312.27 million for the quarter, compared to analyst estimates of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. Equities research analysts forecast that CONMED Co. will post 4.3 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, June 14th. CONMED’s payout ratio is presently 30.65%.

Insiders Place Their Bets

In other news, insider Stanley W. Peters III sold 4,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.82, for a total value of $287,280.00. Following the completion of the transaction, the insider now owns 63 shares of the company’s stock, valued at approximately $4,524.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Pat Beyer bought 3,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average cost of $68.30 per share, for a total transaction of $204,900.00. Following the acquisition, the chief operating officer now owns 10,807 shares of the company’s stock, valued at approximately $738,118.10. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Stanley W. Peters III sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $71.82, for a total transaction of $287,280.00. Following the completion of the transaction, the insider now owns 63 shares of the company’s stock, valued at approximately $4,524.66. The disclosure for this sale can be found here. Over the last three months, insiders have bought 6,442 shares of company stock worth $446,733. Company insiders own 6.80% of the company’s stock.

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.