CONMED Corporation $CNMD Stock Position Decreased by Strategic Financial Services Inc.

Strategic Financial Services Inc. decreased its position in CONMED Corporation (NYSE:CNMD) by 4.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,499 shares of the company’s stock after selling 425 shares during the period. Strategic Financial Services Inc.’s holdings in CONMED were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in CONMED in the 1st quarter worth about $33,000. GAMMA Investing LLC grew its position in CONMED by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company’s stock worth $80,000 after purchasing an additional 591 shares during the last quarter. Smartleaf Asset Management LLC grew its position in CONMED by 15.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock worth $133,000 after purchasing an additional 298 shares during the last quarter. Cetera Investment Advisers bought a new position in CONMED in the 1st quarter worth about $202,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of CONMED during the first quarter valued at $204,000.

Wall Street Analyst Weigh In

CNMD has been the topic of a number of research analyst reports. Needham & Company LLC lowered CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a report on Thursday, June 12th. Piper Sandler lowered their price target 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 and four have issued a Hold rating to the stock. According to data from MarketBeat, CONMED has an average rating of “Hold” and an average price target of $59.80.

CONMED Trading Down 2.2%

CONMED stock opened at $52.78 on Thursday. The firm has a 50 day simple moving average of $52.45 and a 200-day simple moving average of $54.89. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The stock has a market capitalization of $1.63 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. CONMED Corporation has a 12-month low of $46.00 and a 12-month high of $78.19.

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

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. CONMED’s dividend payout ratio (DPR) is 22.66%.

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.