CONMED Co. (NYSE:CNMD) Shares Acquired by Duality Advisers LP

Duality Advisers LP raised its stake in shares of CONMED Co. (NYSE:CNMD) by 149.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,541 shares of the company’s stock after acquiring an additional 11,110 shares during the period. Duality Advisers LP owned approximately 0.06% of CONMED worth $1,485,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CNMD. GAMMA Investing LLC acquired a new stake in shares of CONMED during the fourth quarter valued at about $40,000. Principal Securities Inc. purchased a new position in shares of CONMED in the fourth quarter valued at approximately $46,000. AdvisorNet Financial Inc boosted its stake in shares of CONMED by 70.6% in the first quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after purchasing an additional 745 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of CONMED by 44.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock valued at $179,000 after purchasing an additional 500 shares during the period. Finally, Xponance Inc. purchased a new position in shares of CONMED in the fourth quarter valued at approximately $204,000.

Insider Transactions at CONMED

In related news, Director Barbara J. Schwarzentraub bought 1,442 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $69.26 per share, for a total transaction of $99,872.92. Following the transaction, the director now owns 1,442 shares of the company’s stock, valued at $99,872.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Martha Goldberg Aronson bought 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $141,960. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Barbara J. Schwarzentraub bought 1,442 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $69.26 per share, for a total transaction of $99,872.92. Following the completion of the transaction, the director now directly owns 1,442 shares in the company, valued at approximately $99,872.92. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 6,442 shares of company stock worth $446,733. 6.80% of the stock is currently owned by insiders.

CONMED Stock Up 1.4 %

CONMED stock traded up $0.94 during trading on Friday, reaching $68.72. The stock had a trading volume of 126,507 shares, compared to its average volume of 523,167. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $136.85. The business has a 50 day moving average price of $71.49 and a 200 day moving average price of $81.37. 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 stock has a market cap of $2.12 billion, a PE ratio of 25.95, a P/E/G ratio of 0.62 and a beta of 1.42.

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

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. CONMED’s dividend payout ratio is presently 30.65%.

Wall Street Analysts Forecast Growth

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

About CONMED

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.