19,247 Shares in CONMED Corporation $CNMD Purchased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd acquired 19,247 shares of CONMED Corporation for approximately $1,002,000, representing about 0.06% of the company.
• Director Charles Farkas sold 2,000 shares of CONMED at an average price of $53.52, decreasing his ownership by 11.86% to 14,859 shares.
• CONMED announced a quarterly dividend of $0.20, yielding 1.7%, with the ex-dividend date set for September 15th.

Ninety One UK Ltd acquired a new position in CONMED Corporation (NYSE:CNMD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 19,247 shares of the company's stock, valued at approximately $1,002,000. Ninety One UK Ltd owned about 0.06% of CONMED at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of CONMED by 10,855.1% during the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock valued at $4,803,000 after acquiring an additional 78,808 shares during the last quarter. Avity Investment Management Inc. raised its position in shares of CONMED by 36.9% during the first quarter. Avity Investment Management Inc. now owns 5,565 shares of the company's stock worth $336,000 after purchasing an additional 1,500 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of CONMED during the first quarter valued at $1,289,000. Exchange Traded Concepts LLC increased its stake in CONMED by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after purchasing an additional 217 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in CONMED by 7.0% in the 1st quarter. QRG Capital Management Inc. now owns 5,326 shares of the company's stock worth $322,000 after purchasing an additional 350 shares in the last quarter.

Insider Transactions at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of the 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 of the company's stock, valued at $795,253.68. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company's stock.

CONMED Price Performance

CNMD opened at $47.17 on Thursday. The stock 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 has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $52.05 and a 200 day moving average price of $53.79.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results 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 for 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 business's revenue was up 3.1% compared to the same quarter last year. 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. Analysts forecast that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, September 15th. CONMED's payout ratio is presently 22.66%.

Wall Street Analyst Weigh In

Several brokerages have commented on CNMD. Piper Sandler decreased their target price on shares of CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Needham & Company LLC cut 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. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $59.80.

About CONMED

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.

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