AMI Asset Management Corp Sells 6,385 Shares of CONMED Corporation $CNMD

AMI Asset Management Corp lowered its stake in CONMED Corporation (NYSE:CNMD) by 36.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,021 shares of the company’s stock after selling 6,385 shares during the quarter. AMI Asset Management Corp’s holdings in CONMED were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Mountain Pacific Investment Advisers LLC lifted its stake in CONMED by 3.7% in the second quarter. Mountain Pacific Investment Advisers LLC now owns 139,795 shares of the company’s stock valued at $7,281,000 after buying an additional 4,959 shares in the last quarter. Ninety One UK Ltd bought a new position in CONMED in the second quarter valued at approximately $1,002,000. State of Alaska Department of Revenue lifted its stake in CONMED by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 18,397 shares of the company’s stock valued at $957,000 after buying an additional 1,280 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in CONMED by 8.2% in the second quarter. Public Employees Retirement System of Ohio now owns 43,474 shares of the company’s stock valued at $2,264,000 after buying an additional 3,291 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in CONMED by 17.1% in the second quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock valued at $80,000 after buying an additional 225 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Charles Farkas sold 2,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $53.52, for a total transaction of $107,040.00. Following the transaction, the director directly owned 14,859 shares in the company, valued at approximately $795,253.68. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNMD. Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research report on Thursday, June 12th. Piper Sandler cut their price objective on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.80.

CONMED Price Performance

Shares of CNMD opened at $47.17 on Thursday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.60 and a beta of 1.14. CONMED Corporation has a 1-year low of $45.06 and a 1-year high of $78.00. The company’s fifty day simple moving average is $52.05 and its 200 day simple moving average is $53.79. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $342.35 million for the quarter, compared to the consensus estimate of $338.42 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, research analysts forecast that CONMED Corporation will post 4.35 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, October 3rd. Investors of record on Monday, September 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, September 15th. CONMED’s payout ratio is presently 22.66%.

CONMED 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.