QRG Capital Management Inc. Raises Position in CONMED Co. (NYSE:CNMD)

QRG Capital Management Inc. raised its stake in CONMED Co. (NYSE:CNMD) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,900 shares of the company’s stock after buying an additional 154 shares during the quarter. QRG Capital Management Inc.’s holdings in CONMED were worth $646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of CONMED in the fourth quarter valued at approximately $40,000. Principal Securities Inc. bought a new position in shares of CONMED in the fourth quarter valued at approximately $46,000. Headlands Technologies LLC bought a new position in shares of CONMED in the third quarter valued at approximately $64,000. Xponance Inc. bought a new position in shares of CONMED in the fourth quarter valued at approximately $204,000. Finally, First Trust Direct Indexing L.P. bought a new position in shares of CONMED in the fourth quarter valued at approximately $216,000.

Insider Buying and Selling

In other CONMED news, Director Barbara J. Schwarzentraub acquired 1,442 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $69.26 per share, for a total transaction of $99,872.92. Following the completion of the transaction, the director now owns 1,442 shares of the company’s stock, valued at approximately $99,872.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other CONMED news, COO Pat Beyer acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the transaction, the chief operating officer now owns 10,807 shares of the company’s stock, valued at approximately $738,118.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara J. Schwarzentraub purchased 1,442 shares of the stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $69.26 per share, for a total transaction of $99,872.92. Following the transaction, the director now directly owns 1,442 shares of the company’s stock, valued at $99,872.92. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,442 shares of company stock worth $446,733. Corporate insiders own 6.80% of the company’s stock.

CONMED Price Performance

CONMED stock opened at $74.75 on Friday. CONMED Co. has a one year low of $61.05 and a one year high of $138.47. The business has a fifty day moving average price of $74.89 and a 200-day moving average price of $90.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08. The firm has a market capitalization of $2.30 billion, a P/E ratio of 28.64, a PEG ratio of 0.71 and a beta of 1.37.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, topping 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 firm had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. As a group, equities research analysts forecast that CONMED Co. will post 4.3 EPS for the current year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Wall Street Analyst Weigh In

CNMD has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $107.00 price objective on shares of CONMED in a report on Monday, May 6th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. reduced 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. Finally, Piper Sandler reduced their price objective on 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 six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.86.

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.