Vanguard Group Inc. Has $374.53 Million Holdings in CONMED Co. (NYSE:CNMD)

Vanguard Group Inc. cut its stake in shares of CONMED Co. (NYSE:CNMD) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,420,011 shares of the company’s stock after selling 20,448 shares during the period. Vanguard Group Inc. owned 11.11% of CONMED worth $374,525,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CNMD. GAMMA Investing LLC acquired a new stake in CONMED during the fourth quarter worth approximately $40,000. Principal Securities Inc. acquired a new stake in CONMED during the fourth quarter worth approximately $46,000. Quadrant Capital Group LLC lifted its position in CONMED by 44.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock worth $179,000 after acquiring an additional 500 shares during the last quarter. Xponance Inc. acquired a new stake in CONMED during the fourth quarter worth approximately $204,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $204,000.

Analysts Set New Price Targets

CNMD has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company dropped their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Piper Sandler dropped their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

CONMED Stock Performance

Shares of NYSE:CNMD opened at $67.56 on Friday. The company’s 50 day simple moving average is $71.85 and its 200 day simple moving average is $84.42. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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 1 year low of $61.05 and a 1 year high of $138.29.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $312.27 million for 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%. As a group, research analysts predict that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. CONMED’s payout ratio is presently 30.65%.

Insiders Place Their Bets

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

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.