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

Diversified Trust Co grew its position in CONMED Co. (NYSE:CNMD) by 69.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,991 shares of the company’s stock after acquiring an additional 4,500 shares during the period. Diversified Trust Co’s holdings in CONMED were worth $880,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Epiq Partners LLC raised its position in CONMED by 11.0% in the 1st quarter. Epiq Partners LLC now owns 11,610 shares of the company’s stock worth $930,000 after purchasing an additional 1,147 shares during the last quarter. AdvisorNet Financial Inc raised its position in CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock worth $144,000 after purchasing an additional 745 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID raised its position in CONMED by 29.0% in the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 248,304 shares of the company’s stock worth $19,884,000 after purchasing an additional 55,878 shares during the last quarter. Quadrature Capital Ltd raised its position in CONMED by 3.1% in the 4th quarter. Quadrature Capital Ltd now owns 13,079 shares of the company’s stock worth $1,432,000 after purchasing an additional 399 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its position in CONMED by 8.7% in the 4th quarter. Congress Asset Management Co. MA now owns 302,467 shares of the company’s stock worth $33,123,000 after purchasing an additional 24,280 shares during the last quarter.

CONMED Price Performance

Shares of CNMD stock opened at $67.04 on Wednesday. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $137.86. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 0.66 and a beta of 1.42. 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 firm has a fifty day moving average of $71.58 and a 200-day moving average of $83.12.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $307.06 million. On average, equities research analysts forecast that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

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

Insider Activity

In related news, COO Pat Beyer acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $68.30 per share, with a total value of $204,900.00. Following the transaction, the chief operating officer now owns 10,807 shares of the company’s stock, valued at approximately $738,118.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Barbara J. Schwarzentraub acquired 1,442 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $69.26 per share, with a total value of $99,872.92. Following the transaction, the director now owns 1,442 shares of the company’s stock, valued at approximately $99,872.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Pat Beyer acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was bought at an average cost of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the transaction, 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 bought 6,442 shares of company stock valued at $446,733 in the last quarter. Company insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

CNMD has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 target price on shares of CONMED in a report on Monday, May 6th. Wells Fargo & Company lowered 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. Finally, Piper Sandler lowered their target price on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Two equities 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, CONMED presently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

CONMED 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.