Franklin Resources Inc. Purchases 140 Shares of CONMED Co. (NYSE:CNMD)

Franklin Resources Inc. grew its position in CONMED Co. (NYSE:CNMDFree Report) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,966 shares of the company’s stock after purchasing an additional 140 shares during the period. Franklin Resources Inc.’s holdings in CONMED were worth $1,639,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNMD. Arizona State Retirement System raised its holdings in CONMED by 1.4% during the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after acquiring an additional 121 shares in the last quarter. QRG Capital Management Inc. raised its holdings in CONMED by 2.7% during the fourth quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after acquiring an additional 154 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in CONMED by 4.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,095 shares of the company’s stock worth $448,000 after acquiring an additional 169 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in CONMED by 1.4% during the fourth quarter. Bahl & Gaynor Inc. now owns 15,434 shares of the company’s stock worth $1,690,000 after acquiring an additional 207 shares in the last quarter. Finally, Yousif Capital Management LLC raised its holdings in CONMED by 1.5% during the fourth quarter. Yousif Capital Management LLC now owns 15,613 shares of the company’s stock worth $1,710,000 after acquiring an additional 228 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CONMED in a research note on Monday, May 6th. JPMorgan Chase & Co. dropped their price objective on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Piper Sandler dropped their price objective on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.50.

Check Out Our Latest Report on CNMD

Insider Activity

In related news, Director Martha Goldberg Aronson purchased 2,000 shares of CONMED stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $70.98 per share, with a total value of $141,960.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $141,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Pat Beyer purchased 3,000 shares of CONMED stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average price 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martha Goldberg Aronson purchased 2,000 shares of CONMED stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $141,960. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,442 shares of company stock valued at $446,733. 6.80% of the stock is owned by insiders.

CONMED Price Performance

CONMED stock opened at $77.70 on Wednesday. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $138.47. The stock’s 50 day moving average is $74.03 and its 200-day moving average is $88.57. 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 $2.39 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 0.73 and a beta of 1.43.

CONMED (NYSE:CNMDGet Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $307.06 million. Equities research analysts expect that CONMED Co. will post 4.3 EPS for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, June 14th. CONMED’s payout ratio is 30.65%.

CONMED Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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