Fuller & Thaler Asset Management Inc. Purchases 311,288 Shares of 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. increased its holdings in CONMED Corporation (NYSE:CNMD - Free Report) by 36.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,174,032 shares of the company's stock after purchasing an additional 311,288 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 3.79% of CONMED worth $70,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CNMD. Raymond James Financial Inc. purchased a new stake in CONMED during the 4th quarter valued at about $18,248,000. Summit Investment Advisors Inc. boosted its stake in shares of CONMED by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock valued at $221,000 after purchasing an additional 205 shares during the period. PEAK6 LLC purchased a new stake in shares of CONMED during the fourth quarter valued at approximately $228,000. First Trust Advisors LP grew its holdings in shares of CONMED by 33.3% in the fourth quarter. First Trust Advisors LP now owns 21,255 shares of the company's stock worth $1,455,000 after purchasing an additional 5,309 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of CONMED by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company's stock worth $53,073,000 after buying an additional 57,149 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus cut CONMED from a "buy" rating to a "hold" rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Piper Sandler reduced their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, CONMED presently has a consensus rating of "Hold" and a consensus target price of $59.80.

CONMED Stock Up 5.2%

CONMED stock traded up $2.7790 on Friday, hitting $55.8490. 509,181 shares of the stock traded hands, compared to its average volume of 558,214. CONMED Corporation has a 1 year low of $46.00 and a 1 year high of $78.19. The firm has a market cap of $1.73 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.81 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. The business's fifty day simple moving average is $52.08 and its 200 day simple moving average is $55.85.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business earned $0.98 EPS. CONMED's quarterly 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. As a group, sell-side analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

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

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.