Diversified Trust Co Purchases 4,500 Shares of CONMED Co. (NYSE:CNMD)

Diversified Trust Co grew its position in shares of CONMED Co. (NYSE:CNMD) by 69.3% in the 1st quarter, Holdings Channel reports. The firm owned 10,991 shares of the company’s stock after acquiring an additional 4,500 shares during the quarter. Diversified Trust Co’s holdings in CONMED were worth $880,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in CONMED by 0.3% in the 3rd quarter. Northern Trust Corp now owns 339,332 shares of the company’s stock valued at $34,222,000 after buying an additional 1,115 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in CONMED by 25.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,381 shares of the company’s stock valued at $341,000 after purchasing an additional 691 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in CONMED during the third quarter worth $6,696,000. Gotham Asset Management LLC raised its holdings in CONMED by 194.6% during the third quarter. Gotham Asset Management LLC now owns 23,461 shares of the company’s stock worth $2,366,000 after buying an additional 15,497 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of CONMED during the third quarter valued at about $1,279,000.

CONMED Trading Up 0.1 %

NYSE CNMD opened at $67.04 on Wednesday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 25.69, a PEG ratio of 0.66 and a beta of 1.42. The business has a fifty day simple moving average of $71.58 and a 200 day simple moving average of $83.12. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $137.86. 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 (NYSE:CNMD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $312.27 million during 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%. On average, analysts predict that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CNMD shares. Needham & Company LLC restated a “buy” rating and issued a $107.00 target price on shares of CONMED in a report on Monday, May 6th. Piper Sandler dropped their target price on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock 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 for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company lowered their price target on CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Insider Buying and Selling at CONMED

In other CONMED news, COO Pat Beyer acquired 3,000 shares of CONMED stock in a transaction on Tuesday, April 30th. The stock was purchased at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the purchase, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at $738,118.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Stanley W. Peters III sold 4,000 shares of the stock in a transaction 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 transaction, the insider now owns 63 shares in the company, valued at approximately $4,524.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Pat Beyer purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average price of $68.30 per share, with a total value of $204,900.00. Following the purchase, 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 6,442 shares of company stock worth $446,733 in the last quarter. 6.80% of the stock is currently owned by company insiders.

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.