26,549 Shares in CONMED Corporation $CNMD Bought by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP acquired 26,549 shares of CONMED Corporation, valued at approximately $1.6 million, representing 0.09% of the company.
• Two notable analyst revisions include Needham & Company downgrading CONMED from "buy" to "hold" with a price target of $61, and Piper Sandler lowering its price objective from $80 to $68.
• The company has announced a quarterly dividend of $0.20 per share, translating to an annualized dividend yield of 1.5%, with payment scheduled for October 3rd.

Cinctive Capital Management LP acquired a new position in CONMED Corporation (NYSE:CNMD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,549 shares of the company's stock, valued at approximately $1,603,000. Cinctive Capital Management LP owned 0.09% of CONMED as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its position in shares of CONMED by 2.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after buying an additional 217 shares in the last quarter. GAMMA Investing LLC raised its holdings in CONMED by 10,855.1% during the first quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock worth $4,803,000 after purchasing an additional 78,808 shares in the last quarter. Raymond James Financial Inc. raised its holdings in CONMED by 46.5% during the first quarter. Raymond James Financial Inc. now owns 390,675 shares of the company's stock worth $23,592,000 after purchasing an additional 124,050 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in CONMED by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 257,712 shares of the company's stock worth $15,308,000 after purchasing an additional 34,570 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in CONMED by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 634,677 shares of the company's stock valued at $38,328,000 after purchasing an additional 9,619 shares in the last quarter.

CONMED Stock Up 0.2%

CNMD traded up $0.11 on Tuesday, reaching $53.94. 345,181 shares of the company traded hands, compared to its average volume of 471,527. CONMED Corporation has a 52-week low of $46.00 and a 52-week high of $78.19. 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 company has a market cap of $1.67 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.87 and a beta of 1.18. The stock's 50 day moving average price is $52.48 and its 200-day moving average price is $54.91.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $342.35 million for 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%. CONMED's revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, sell-side analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors 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 dividend on an annualized basis and a yield of 1.5%. CONMED's dividend payout ratio is currently 22.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CNMD shares. Piper Sandler dropped their price objective on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a research note 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 target on the stock. in a research report on Thursday, June 12th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $59.80.

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.