CONMED Corporation $CNMD Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in CONMED Corporation by acquiring an additional 15,300 shares, raising its total ownership to 398,250 shares, valued at approximately $24 million.
• CONMED reported quarterly earnings of $1.15 per share, exceeding analysts' expectations, with revenue of $342.35 million, reflecting a year-over-year increase of 3.1%.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 1.5%, with a payout ratio of 22.66%.

Charles Schwab Investment Management Inc. lifted its holdings in CONMED Corporation (NYSE:CNMD - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 398,250 shares of the company's stock after buying an additional 15,300 shares during the period. Charles Schwab Investment Management Inc. owned about 1.29% of CONMED worth $24,050,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in CONMED during the 1st quarter valued at about $33,000. Aquatic Capital Management LLC bought a new position in CONMED during the 4th quarter valued at about $82,000. GAMMA Investing LLC grew its holdings in CONMED by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock valued at $80,000 after purchasing an additional 591 shares during the last quarter. Quantinno Capital Management LP bought a new position in CONMED during the 4th quarter valued at about $222,000. Finally, Cetera Investment Advisers bought a new position in CONMED during the 1st quarter valued at about $202,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and dropped their target price for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Wall Street Zen downgraded shares of CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC downgraded shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 target price on the stock. in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, CONMED currently has a consensus rating of "Hold" and a consensus target price of $59.80.

CONMED Stock Up 5.2%

Shares of CNMD traded up $2.7790 during mid-day trading on Friday, hitting $55.8490. The company's stock had a trading volume of 509,181 shares, compared to its average volume of 558,214. The company's 50-day moving average is $52.08 and its 200-day moving average is $55.85. CONMED Corporation has a 52-week low of $46.00 and a 52-week high of $78.19. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.90 and a beta of 1.17. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88.

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 company had revenue of $342.35 million during the quarter, compared to analysts' expectations of $338.42 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. CONMED's revenue for the quarter 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, equities research analysts forecast that CONMED Corporation will post 4.35 EPS 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 $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. 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.