Xponance Inc. Purchases New Shares in CONMED Co. (NYSE:CNMD)

Xponance Inc. purchased a new stake in CONMED Co. (NYSE:CNMD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,862 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in CONMED during the 3rd quarter worth $64,000. Olympiad Research LP purchased a new position in CONMED during the 3rd quarter worth $230,000. Vanguard Personalized Indexing Management LLC raised its position in CONMED by 15.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,295 shares of the company’s stock worth $231,000 after buying an additional 308 shares during the last quarter. Park Avenue Securities LLC purchased a new position in CONMED during the 3rd quarter worth $273,000. Finally, Advisor Partners II LLC raised its position in CONMED by 93.8% during the 3rd quarter. Advisor Partners II LLC now owns 2,932 shares of the company’s stock worth $296,000 after buying an additional 1,419 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on CNMD. Needham & Company LLC cut their price objective on shares of CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler lowered their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company lowered their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.86.

CONMED Price Performance

Shares of NYSE CNMD opened at $65.78 on Monday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 0.60 and a beta of 1.33. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $78.06 and its 200 day moving average price is $93.36. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $138.47.

CONMED (NYSE:CNMD) last announced its quarterly 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 firm had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.99%. As a group, research analysts forecast that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

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.