Aurora Investment Counsel Grows Holdings in CONMED Corporation $CNMD

Key Points

• Aurora Investment Counsel increased its stake in CONMED Corporation by 39.3%, owning 24,580 shares valued at approximately $1.28 million after purchasing an additional 6,930 shares in the second quarter.
• Director Charles Farkas sold 2,000 shares at an average price of $53.52, reducing his position by nearly 12%, which highlights some insider activity amidst fluctuating stock performance.
• CONMED's quarterly earnings report showed a 3.1% increase in revenue year-over-year, with an EPS of $1.15, exceeding analyst expectations of $1.13.

Aurora Investment Counsel grew its stake in CONMED Corporation (NYSE:CNMD - Free Report) by 39.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,580 shares of the company's stock after buying an additional 6,930 shares during the period. Aurora Investment Counsel owned approximately 0.08% of CONMED worth $1,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westwood Holdings Group Inc. boosted its stake in shares of 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 purchasing an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CONMED by 36.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company's stock valued at $70,900,000 after purchasing an additional 311,288 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of CONMED by 5.8% in the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company's stock valued at $42,431,000 after purchasing an additional 38,580 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of CONMED by 1.5% in 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CONMED by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 398,250 shares of the company's stock valued at $24,050,000 after purchasing an additional 15,300 shares in the last quarter.

Insider Activity at CONMED

In other news, Director Charles Farkas sold 2,000 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the sale, the director directly owned 14,859 shares of the company's stock, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company's stock.

CONMED Trading Up 5.9%

NYSE:CNMD opened at $47.85 on Tuesday. The company has a fifty day moving average of $50.44 and a 200 day moving average of $52.43. CONMED Corporation has a 52 week low of $42.50 and a 52 week high of $78.00. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.48 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.54 and a beta of 1.14.

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 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 company had revenue of $342.35 million during the quarter, compared to analyst estimates of $338.42 million. During the same period in the prior year, the business posted $0.98 EPS. The firm's revenue was up 3.1% compared to the same quarter last year. 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 year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given 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 was Monday, September 15th. CONMED's dividend payout ratio (DPR) is currently 22.66%.

Analyst Upgrades and Downgrades

CNMD has been the subject of a number of research reports. Piper Sandler cut their price objective 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. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CONMED in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently 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.

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