Level Four Advisory Services LLC Buys New Position in CONMED Co. (NYSE:CNMD)

Level Four Advisory Services LLC acquired a new stake in CONMED Co. (NYSE:CNMDFree Report) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,331 shares of the company’s stock, valued at approximately $365,000.

Other institutional investors have also made changes to their positions in the company. Versor Investments LP acquired a new stake in shares of CONMED in the third quarter valued at approximately $475,000. Walleye Capital LLC acquired a new stake in CONMED during the 3rd quarter valued at $5,691,000. Trexquant Investment LP acquired a new stake in CONMED during the 3rd quarter valued at $2,534,000. California Public Employees Retirement System increased its holdings in shares of CONMED by 14.9% in the third quarter. California Public Employees Retirement System now owns 49,065 shares of the company’s stock valued at $4,948,000 after purchasing an additional 6,356 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of CONMED by 6.0% in the fourth quarter. Fifth Third Bancorp now owns 17,379 shares of the company’s stock valued at $1,903,000 after purchasing an additional 987 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of CONMED in a research note on Monday, May 6th. 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. 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 research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

Read Our Latest Analysis on CNMD

CONMED Stock Performance

NYSE CNMD opened at $74.96 on Thursday. The firm’s 50 day simple moving average is $74.28 and its 200 day simple moving average is $90.41. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 0.72 and a beta of 1.37. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $138.47.

CONMED (NYSE:CNMDGet Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share 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 firm had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. As a group, research analysts expect that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. CONMED’s payout ratio is presently 30.65%.

Insiders Place Their Bets

In other news, COO Pat Beyer purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average cost of $68.30 per share, with a total value of $204,900.00. Following the completion of the purchase, the chief operating officer now owns 10,807 shares of the company’s stock, valued at approximately $738,118.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CONMED news, COO Pat Beyer purchased 3,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief operating officer now owns 10,807 shares in the company, valued at $738,118.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara J. Schwarzentraub acquired 1,442 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $69.26 per share, with a total value of $99,872.92. Following the completion of the acquisition, 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. Insiders bought a total of 6,442 shares of company stock valued at $446,733 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

CONMED 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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