GAMMA Investing LLC Makes New $40,000 Investment in CONMED Co. (NYSE:CNMD)

GAMMA Investing LLC bought a new position in shares of CONMED Co. (NYSE:CNMD) in the 4th quarter, Holdings Channel reports. The institutional investor bought 369 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNMD. Headlands Technologies LLC acquired a new position in shares of CONMED during the third quarter worth $64,000. Xponance Inc. acquired a new position in shares of CONMED during the fourth quarter worth $204,000. Olympiad Research LP acquired a new position in shares of CONMED during the third quarter worth $230,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of CONMED by 15.5% during the third 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 in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of CONMED during the third quarter worth $273,000.

Insiders Place Their Bets

In other news, COO Pat Beyer bought 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was acquired at an average cost of $68.30 per share, with a total value of $204,900.00. Following the completion of the transaction, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at approximately $738,118.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.80% of the company’s stock.

CONMED Stock Performance

Shares of CNMD opened at $71.76 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 0.65 and a beta of 1.37. The stock has a 50 day moving average of $77.03 and a 200 day moving average of $92.68. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $138.47.

CONMED (NYSE:CNMD) last issued 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. CONMED had a return on equity of 13.78% and a net margin of 6.53%. The company had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. As a group, sell-side analysts forecast that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio is currently 30.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNMD shares. Piper Sandler lowered their price target 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. Wells Fargo & Company decreased their price objective on CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Needham & Company LLC decreased their price objective on CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.86.

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.