AMI Asset Management Corp Has $4.46 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

AMI Asset Management Corp raised its holdings in shares of CONMED Co. (NYSE:CNMD) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,728 shares of the company’s stock after purchasing an additional 13,204 shares during the quarter. AMI Asset Management Corp owned approximately 0.18% of CONMED worth $4,463,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased 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 during the period. Mountain Pacific Investment Advisers Inc. ID increased its position in CONMED by 29.0% during the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 248,304 shares of the company’s stock worth $19,884,000 after buying an additional 55,878 shares during the period. Intrinsic Edge Capital Management LLC increased its position in CONMED by 672.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 77,248 shares of the company’s stock worth $8,459,000 after buying an additional 67,248 shares during the period. Capital Research Global Investors increased its position in CONMED by 11.8% during the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock worth $301,931,000 after buying an additional 289,996 shares during the period. Finally, Congress Asset Management Co. MA increased its position in CONMED by 8.7% during the 4th quarter. Congress Asset Management Co. MA now owns 302,467 shares of the company’s stock worth $33,123,000 after buying an additional 24,280 shares during the period.

CONMED Trading Up 0.7 %

Shares of CONMED stock traded up $0.47 during midday trading on Thursday, reaching $67.51. The company had a trading volume of 137,678 shares, compared to its average volume of 377,065. The firm has a market cap of $2.08 billion, a PE ratio of 25.85, a P/E/G ratio of 0.64 and a beta of 1.42. The stock has a fifty day moving average price of $71.53 and a 200 day moving average price of $83.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $137.86.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. On average, equities analysts anticipate that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. CONMED’s dividend payout ratio is 30.65%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on CNMD shares. 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 report on Thursday, April 25th. Wells Fargo & Company decreased their price target 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 decreased their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $107.00 target price on shares of CONMED in a research report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.