CONMED Corporation $CNMD Shares Purchased by Versor Investments LP

Key Points

• Versor Investments LP increased its stake in CONMED Corporation by 75.2%, now holding 13,433 shares valued at $811,000.
• Multiple hedge funds, including GAMMA Investing LLC and Cetera Investment Advisers, have recently made new investments in CONMED, reflecting growing interest in the stock.
• Analysts have downgraded CONMED's stock ratings with a consensus hold rating and a price target averaging $59.80, indicating cautious sentiment moving forward.

Versor Investments LP increased its position in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 75.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,433 shares of the company's stock after purchasing an additional 5,765 shares during the period. Versor Investments LP's holdings in CONMED were worth $811,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC raised its holdings in CONMED by 0.9% during the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock worth $192,328,000 after purchasing an additional 25,876 shares in the last quarter. Capital Research Global Investors raised its holdings in CONMED by 2.1% during the fourth quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after purchasing an additional 32,630 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in CONMED by 41.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock worth $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in CONMED in the fourth quarter valued at about $68,489,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in CONMED in the fourth quarter valued at about $59,046,000.

Wall Street Analysts Forecast Growth

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

CONMED Price Performance

Shares of CNMD stock traded up $2.7790 during trading hours on Friday, hitting $55.8490. The company's stock had a trading volume of 509,181 shares, compared to its average volume of 567,536. The business has a fifty day moving average of $52.08 and a 200-day moving average of $55.64. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.90 and a beta of 1.17. CONMED Corporation has a twelve month low of $46.00 and a twelve month high of $78.19. 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, equities research analysts anticipate that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm 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. The ex-dividend date is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. CONMED's dividend 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.