CONMED Co. (NYSE:CNMD) Shares Acquired by Olympiad Research LP

Olympiad Research LP lifted its position in CONMED Co. (NYSE:CNMDFree Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,410 shares of the company’s stock after acquiring an additional 134 shares during the period. Olympiad Research LP’s holdings in CONMED were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 33,794 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of CONMED during the 3rd quarter valued at about $5,691,000. Trexquant Investment LP purchased a new stake in shares of CONMED in the third quarter valued at about $2,534,000. California Public Employees Retirement System grew its holdings in shares of CONMED by 14.9% in the third quarter. California Public Employees Retirement System now owns 49,065 shares of the company’s stock valued at $4,948,000 after purchasing an additional 6,356 shares during the period. Finally, Fifth Third Bancorp raised its stake in CONMED by 6.0% during the fourth quarter. Fifth Third Bancorp now owns 17,379 shares of the company’s stock worth $1,903,000 after purchasing an additional 987 shares during the period.

CONMED Stock Up 1.6 %

CNMD traded up $1.22 on Thursday, hitting $75.46. 85,801 shares of the company were exchanged, compared to its average volume of 559,947. The firm has a 50-day moving average price of $73.98 and a two-hundred day moving average price of $89.51. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.47. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37.

CONMED (NYSE:CNMDGet Free Report) last released its quarterly earnings data 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 business had revenue of $312.27 million during 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%. On average, equities analysts predict that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, June 14th. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Piper Sandler lowered their price objective on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company dropped their target price on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. 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 research note on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price objective on shares of CONMED in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Get Our Latest Report on CONMED

Insider Buying and Selling

In related news, Director Barbara J. Schwarzentraub acquired 1,442 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $69.26 per share, with a total value of $99,872.92. Following the completion of the acquisition, the director now owns 1,442 shares in the company, valued at $99,872.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Barbara J. Schwarzentraub acquired 1,442 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $69.26 per share, with a total value of $99,872.92. Following the completion of the acquisition, the director now owns 1,442 shares in the company, valued at approximately $99,872.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Pat Beyer bought 3,000 shares of CONMED stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average cost of $68.30 per share, with a total value of $204,900.00. Following the completion of the acquisition, the chief operating officer now directly owns 10,807 shares in the company, valued at approximately $738,118.10. The disclosure for this purchase can be found here. Insiders acquired a total of 6,442 shares of company stock worth $446,733 over the last 90 days. 6.80% of the stock is owned by insiders.

About CONMED

(Free Report)

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.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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