Fuller & Thaler Asset Management Inc. Has $70.90 Million Stake in CONMED Corporation $CNMD

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in CONMED Corporation by 36.1% during the first quarter, now owning around 3.79% of the company, valued at approximately $70.9 million.
• A number of analysts have recently downgraded CONMED's stock ratings, with Stifel Nicolaus lowering it from "buy" to "hold" and reducing its price target from $75 to $55.
• CONMED announced a quarterly dividend of $0.20, payable on October 3rd, reflecting an annualized yield of 1.5% based on a current payout ratio of 22.66%.

Fuller & Thaler Asset Management Inc. raised its position in CONMED Corporation (NYSE:CNMD - Free Report) by 36.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,174,032 shares of the company's stock after buying an additional 311,288 shares during the period. Fuller & Thaler Asset Management Inc. owned about 3.79% of CONMED worth $70,900,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in CONMED in the 1st quarter valued at $33,000. GAMMA Investing LLC boosted its position in CONMED by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock valued at $80,000 after buying an additional 591 shares during the last quarter. Aquatic Capital Management LLC bought a new position in CONMED in the 4th quarter valued at $82,000. Cetera Investment Advisers bought a new position in CONMED in the 1st quarter valued at $202,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of CONMED in the 1st quarter worth $204,000.

CONMED Trading Up 5.2%

CNMD stock traded up $2.7790 during midday trading on Friday, hitting $55.8490. 509,181 shares of the company's stock were exchanged, compared to its average volume of 567,536. The stock's fifty day moving average price is $52.08 and its 200-day moving average price is $55.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The company has a market cap of $1.73 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $342.35 million for 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 company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Research analysts predict that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently announced 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 is Monday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.4%. CONMED's payout ratio is currently 22.66%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. 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 reduced their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $59.80.

CONMED Company 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.