SG Americas Securities LLC Buys 2,601 Shares of CONMED Co. (NYSE:CNMD)

SG Americas Securities LLC raised its stake in shares of CONMED Co. (NYSE:CNMD) by 107.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,021 shares of the company’s stock after purchasing an additional 2,601 shares during the quarter. SG Americas Securities LLC’s holdings in CONMED were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CNMD. GAMMA Investing LLC bought a new stake in shares of CONMED during the 4th quarter worth $40,000. Principal Securities Inc. bought a new stake in CONMED during the fourth quarter worth about $46,000. Hilltop National Bank lifted its stake in CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the last quarter. CWM LLC boosted its holdings in shares of CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after purchasing an additional 636 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of CONMED by 70.6% during the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after purchasing an additional 745 shares during the last quarter.

CONMED Trading Down 0.1 %

Shares of CNMD opened at $67.91 on Thursday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 26.02, a PEG ratio of 0.67 and a beta of 1.42. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $68.43 and a two-hundred day simple moving average of $74.05.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $332.10 million during the quarter, compared to the consensus estimate of $334.39 million. CONMED had a net margin of 7.73% and a return on equity of 14.12%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. On average, research analysts anticipate that CONMED Co. will post 3.99 EPS for the current year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be given a $0.20 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. CONMED’s dividend payout ratio is currently 30.65%.

Insider Activity

In related news, insider Stanley W. Peters III sold 4,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $71.82, for a total value of $287,280.00. Following the completion of the sale, the insider now owns 63 shares of the company’s stock, valued at $4,524.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CNMD shares. Wells Fargo & Company cut their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Needham & Company LLC cut their price objective on shares of CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Piper Sandler cut their price target on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, Stifel Nicolaus decreased their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.80.

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.