Confluence Investment Management LLC Lowers Stock Holdings in CONMED Corporation $CNMD

Key Points

• Confluence Investment Management LLC has decreased its stake in CONMED Corporation by 6.0%, selling 8,306 shares in the second quarter, leaving it with 129,012 shares valued at approximately $6.72 million.
• CONMED reported a quarterly earnings per share of $1.15, exceeding analyst expectations, and has set FY 2025 guidance at a range of 4.400-4.550 EPS.
• The company announced a quarterly dividend of $0.20, which translates to an annual payout of $0.80 and a dividend yield of 1.5%, with a payout ratio of 22.66%.

Confluence Investment Management LLC reduced its stake in CONMED Corporation (NYSE:CNMD - Free Report) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,012 shares of the company's stock after selling 8,306 shares during the quarter. Confluence Investment Management LLC owned 0.42% of CONMED worth $6,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its holdings in CONMED by 2.3% during the first quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after acquiring an additional 217 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CONMED by 4.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,462 shares of the company's stock worth $330,000 after purchasing an additional 239 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in CONMED by 15.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company's stock worth $133,000 after purchasing an additional 298 shares in the last quarter. Connable Office Inc. boosted its position in CONMED by 5.7% during the first quarter. Connable Office Inc. now owns 6,092 shares of the company's stock worth $368,000 after purchasing an additional 326 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in CONMED by 7.0% during the first quarter. QRG Capital Management Inc. now owns 5,326 shares of the company's stock worth $322,000 after purchasing an additional 350 shares in the last quarter.

CONMED Stock Performance

Shares of NYSE:CNMD opened at $52.94 on Friday. The firm has a market capitalization of $1.64 billion, a PE ratio of 15.00, a P/E/G ratio of 1.84 and a beta of 1.18. 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 business has a 50-day moving average of $52.42 and a two-hundred day moving average of $54.72. CONMED Corporation has a 12 month low of $46.00 and a 12 month high of $78.19.

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

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. CONMED's dividend payout ratio (DPR) is 22.66%.

Wall Street Analyst Weigh In

A number of research firms have commented on CNMD. Piper Sandler decreased their target price on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC downgraded CONMED from a "buy" rating to a "hold" rating and set a $61.00 price objective on the stock. in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.

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