Aurora Investment Counsel Boosts Holdings in CONMED Corporation $CNMD

Aurora Investment Counsel increased its holdings in CONMED Corporation (NYSE:CNMD) by 39.3% in the 2nd quarter, Holdings Channel reports. The fund owned 24,580 shares of the company’s stock after buying an additional 6,930 shares during the quarter. Aurora Investment Counsel’s holdings in CONMED were worth $1,280,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNMD. Picton Mahoney Asset Management bought a new position in shares of CONMED in the 1st quarter worth about $33,000. CWM LLC increased its stake in shares of CONMED by 352.0% in the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after acquiring an additional 616 shares in the last quarter. Hilltop National Bank bought a new position in shares of CONMED in the 2nd quarter worth about $55,000. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 591 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of 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 acquiring an additional 298 shares in the last quarter.

CONMED Stock Performance

Shares of CNMD stock opened at $47.85 on Tuesday. CONMED Corporation has a one year low of $42.50 and a one year high of $78.00. The company’s 50-day moving average is $50.44 and its 200 day moving average is $52.43. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.54 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 (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company 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%. CONMED’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Sell-side analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 15th. CONMED’s dividend payout ratio (DPR) is presently 22.66%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. Piper Sandler decreased their price target on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.80.

Insider Activity

In related news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the transaction, the director owned 14,859 shares of the company’s stock, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

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.