Orion Portfolio Solutions LLC Acquires 1,839 Shares of CONMED Co. (NYSE:CNMD)

Orion Portfolio Solutions LLC grew its position in shares of CONMED Co. (NYSE:CNMDFree Report) by 50.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,455 shares of the company’s stock after purchasing an additional 1,839 shares during the period. Orion Portfolio Solutions LLC’s holdings in CONMED were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of CONMED by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock worth $78,010,000 after buying an additional 33,794 shares during the period. Walleye Capital LLC purchased a new position in shares of CONMED in the third quarter worth about $5,691,000. Victory Capital Management Inc. increased its holdings in shares of CONMED by 24.9% in the fourth quarter. Victory Capital Management Inc. now owns 9,218 shares of the company’s stock worth $1,009,000 after buying an additional 1,837 shares during the period. QRG Capital Management Inc. increased its holdings in shares of CONMED by 2.7% in the fourth quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after buying an additional 154 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of CONMED in the third quarter worth about $2,534,000.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on CNMD

Insiders Place Their Bets

In related news, Director Martha Goldberg Aronson purchased 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $70.98 per share, with a total value of $141,960.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $141,960. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Martha Goldberg Aronson purchased 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $70.98 per share, with a total value of $141,960.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $141,960. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, COO Pat Beyer purchased 3,000 shares of the company’s stock in a transaction dated 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 owns 10,807 shares in the company, valued at $738,118.10. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 6,442 shares of company stock worth $446,733. Company insiders own 6.80% of the company’s stock.

CONMED Stock Up 0.2 %

CNMD stock opened at $77.81 on Thursday. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $138.47. The business’s 50 day moving average price is $73.98 and its two-hundred day moving average price is $88.49. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 0.74 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 earnings per share 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 for the quarter, compared to the consensus estimate of $307.06 million. As a group, analysts forecast that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.03%. CONMED’s dividend payout ratio (DPR) 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.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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