CONMED Co. (NYSE:CNMD) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its holdings in CONMED Co. (NYSE:CNMD) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,925 shares of the company’s stock after acquiring an additional 6,557 shares during the quarter. Squarepoint Ops LLC’s holdings in CONMED were worth $8,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CNMD. 1620 Investment Advisors Inc. bought a new position in shares of CONMED in the second quarter worth $39,000. Innealta Capital LLC bought a new position in CONMED in the 2nd quarter valued at about $41,000. Hilltop National Bank increased its stake in CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares during the period. CWM LLC raised its position in shares of CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock worth $144,000 after acquiring an additional 745 shares during the period.

CONMED Stock Up 1.2 %

Shares of CONMED stock opened at $74.76 on Friday. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $117.27. The firm has a market capitalization of $2.30 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 0.98 and a beta of 1.46. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $71.15 and its 200-day moving average is $72.30.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The firm had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. During the same quarter in the previous year, the company earned $0.83 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts anticipate that CONMED Co. will post 3.99 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Monday, September 16th. CONMED’s dividend payout ratio is 30.65%.

Analysts Set New Price Targets

A number of research firms recently commented on CNMD. Piper Sandler lowered their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC dropped their price objective on CONMED from $106.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company cut their price objective on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. StockNews.com upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Stifel Nicolaus reduced their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED 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.