Aberdeen Group plc Grows 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 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,186 shares of the company's stock after acquiring an additional 5,249 shares during the quarter. Aberdeen Group plc owned 0.46% of CONMED worth $8,526,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new position in shares of CONMED during the first quarter worth approximately $33,000. Aquatic Capital Management LLC purchased a new position in shares of CONMED during the fourth quarter worth approximately $82,000. GAMMA Investing LLC grew its holdings in shares of CONMED by 81.4% in the first 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. Summit Investment Advisors Inc. grew its holdings in shares of CONMED by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock worth $221,000 after purchasing an additional 205 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in CONMED during the 4th quarter valued at $222,000.

Wall Street Analysts Forecast Growth

CNMD has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target 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. Stifel Nicolaus lowered shares of CONMED from a "buy" rating to a "hold" rating and lowered their price target for the company from $75.00 to $55.00 in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen lowered shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC lowered shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target for the company. in a report on Thursday, June 12th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, CONMED presently has a consensus rating of "Hold" and an average target price of $59.80.

CONMED Trading Up 5.2%

CONMED stock traded up $2.7790 during mid-day trading on Friday, reaching $55.8490. 509,181 shares of the company traded hands, compared to its average volume of 558,214. 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 firm's 50 day moving average price is $52.08 and its 200 day moving average price is $55.85. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.81 and a beta of 1.17. CONMED Corporation has a 52-week low of $46.00 and a 52-week high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The business 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%. The company's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, September 15th. CONMED's payout ratio is presently 22.66%.

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.