Aberdeen Group plc Raises Stock Holdings in CONMED Corporation $CNMD

Key Points

• Aberdeen Group plc increased its stake in CONMED Corporation by 3.9%, owning approximately 141,186 shares worth about $8.5 million as of the end of the first quarter.
• Several institutional investors, including Dimensional Fund Advisors and First Trust Advisors, also raised their positions in CONMED during the fourth quarter.
• CONMED recently announced a quarterly dividend of $0.20 per share, yielding 1.5%, with an ex-dividend date of September 15.

Aberdeen Group plc grew its holdings in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,186 shares of the company's stock after purchasing an additional 5,249 shares during the period. Aberdeen Group plc owned about 0.46% of CONMED worth $8,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNMD. Earnest Partners LLC grew its holdings in shares of CONMED by 0.9% in the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock valued at $192,328,000 after purchasing an additional 25,876 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in CONMED by 41.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock valued at $74,747,000 after buying an additional 360,336 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in shares of CONMED in the fourth quarter worth $68,489,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of CONMED during the fourth quarter worth $59,046,000. Finally, Dimensional Fund Advisors LP increased its position 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 worth $53,073,000 after acquiring an additional 57,149 shares during the period.

CONMED Stock Down 2.6%

Shares of NYSE:CNMD traded down $1.4630 during trading on Monday, hitting $54.3470. 241,089 shares of the company were exchanged, compared to its average volume of 567,536. The stock has a market capitalization of $1.68 billion, a P/E ratio of 15.40, a PEG ratio of 1.90 and a beta of 1.17. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. CONMED Corporation has a 12-month low of $46.00 and a 12-month high of $78.19. The firm's 50 day moving average price is $52.10 and its 200-day moving average price is $55.56.

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

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend 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 presently 22.66%.

Analyst Upgrades and Downgrades

CNMD has been the subject of a number of recent research reports. Stifel Nicolaus lowered CONMED from a "buy" rating to a "hold" rating and decreased their target price for the company from $75.00 to $55.00 in a report on Monday, April 28th. 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 research report on Thursday, June 12th. Piper Sandler lowered their price objective on CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. cut their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen cut shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, CONMED presently has a consensus 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.