Versor Investments LP Acquires 5,765 Shares of CONMED Corporation $CNMD

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 boosted its holdings in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 75.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,433 shares of the company's stock after acquiring an additional 5,765 shares during the quarter. Versor Investments LP's holdings in CONMED were worth $811,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CNMD. Raymond James Financial Inc. acquired a new stake in CONMED during the 4th quarter worth about $18,248,000. Summit Investment Advisors Inc. boosted its position in CONMED by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock worth $221,000 after acquiring an additional 205 shares during the period. PEAK6 LLC acquired a new stake in shares of CONMED during the 4th quarter valued at about $228,000. First Trust Advisors LP lifted its holdings in shares of CONMED by 33.3% during the 4th quarter. First Trust Advisors LP now owns 21,255 shares of the company's stock valued at $1,455,000 after buying an additional 5,309 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CONMED by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company's stock valued at $53,073,000 after buying an additional 57,149 shares during the last quarter.

CONMED Stock Performance

Shares of CNMD stock traded up $2.7790 during trading on Friday, reaching $55.8490. The company had a trading volume of 509,181 shares, compared to its average volume of 558,214. The firm's 50 day simple moving average is $52.08 and its two-hundred day simple moving average is $55.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19. The company has a market capitalization of $1.73 billion, a PE ratio of 15.82, a PEG ratio of 1.81 and a beta of 1.17.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The business had revenue of $342.35 million for the quarter, compared to the consensus estimate of $338.42 million. During the same period last year, the business earned $0.98 EPS. The firm's 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. Sell-side analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a 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 for the company. in a report on Thursday, June 12th. Piper Sandler reduced their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Finally, Wall Street Zen lowered 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 assigned a Hold rating to the stock. According to MarketBeat, CONMED has an average rating of "Hold" and an average price target of $59.80.

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.