Nordea Investment Management AB Has $3.95 Million Position in CONMED Corporation $CNMD

Nordea Investment Management AB increased its holdings in shares of CONMED Corporation (NYSE:CNMD) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 75,441 shares of the company’s stock after acquiring an additional 520 shares during the quarter. Nordea Investment Management AB’s holdings in CONMED were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CNMD. Westwood Holdings Group Inc. grew its holdings in CONMED by 41.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after buying an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in CONMED by 36.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after buying an additional 311,288 shares in the last quarter. Raymond James Financial Inc. grew its holdings in CONMED by 46.5% in the 1st quarter. Raymond James Financial Inc. now owns 390,675 shares of the company’s stock valued at $23,592,000 after buying an additional 124,050 shares in the last quarter. Pacific Capital Partners Ltd acquired a new position in CONMED in the 1st quarter valued at $5,504,000. Finally, Moran Wealth Management LLC acquired a new position in CONMED in the 1st quarter valued at $5,029,000.

CONMED Stock Performance

NYSE:CNMD opened at $48.47 on Wednesday. The stock has a fifty day moving average price of $50.32 and a 200-day moving average price of $52.40. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. CONMED Corporation has a fifty-two week low of $42.50 and a fifty-two week high of $78.00.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $342.35 million during the quarter, compared to the consensus estimate of $338.42 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, equities analysts anticipate that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, September 15th. CONMED’s dividend payout ratio is currently 22.66%.

Insider Buying and Selling at CONMED

In related news, Director Charles Farkas sold 2,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the completion of the sale, the director directly owned 14,859 shares in the company, valued at $795,253.68. This represents a 11.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Piper Sandler decreased their price objective on CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.80.

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.