CONMED Corporation $CNMD Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its holdings in CONMED Corporation (NYSE:CNMD) by 15.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,260 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Smartleaf Asset Management LLC’s holdings in CONMED were worth $133,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. raised its holdings in shares of CONMED by 41.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after acquiring an additional 360,336 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of CONMED by 36.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after acquiring an additional 311,288 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of CONMED during the fourth quarter valued at approximately $68,489,000. Dimensional Fund Advisors LP raised its holdings in shares of CONMED by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company’s stock valued at $53,073,000 after acquiring an additional 57,149 shares during the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of CONMED by 5.8% during the first quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock valued at $42,431,000 after acquiring an additional 38,580 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on CNMD. Wells Fargo & Company reduced their target price on CONMED from $70.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Piper Sandler reduced their target price on CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Wall Street Zen cut CONMED from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Needham & Company LLC cut CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a report on Thursday, June 12th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.80.

CONMED Trading Down 0.6%

Shares of CONMED stock opened at $54.42 on Thursday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.86 and a beta of 1.17. CONMED Corporation has a fifty-two week low of $46.00 and a fifty-two week high of $78.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The stock has a 50 day moving average of $52.20 and a 200 day moving average of $55.54.

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

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, September 15th. CONMED’s dividend 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.