Allspring Global Investments Holdings LLC Purchases 34,570 Shares of CONMED Corporation (NYSE:CNMD)

Allspring Global Investments Holdings LLC raised its stake in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,712 shares of the company's stock after purchasing an additional 34,570 shares during the period. Allspring Global Investments Holdings LLC owned 0.83% of CONMED worth $15,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CNMD. Beverly Hills Private Wealth LLC lifted its holdings in shares of CONMED by 4.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company's stock worth $257,000 after acquiring an additional 168 shares during the last quarter. Summit Investment Advisors Inc. raised its position in CONMED by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock worth $221,000 after purchasing an additional 205 shares during the period. Exchange Traded Concepts LLC lifted its stake in CONMED by 2.3% in the first quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after purchasing an additional 217 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after purchasing an additional 322 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of CONMED by 7.0% during the first quarter. QRG Capital Management Inc. now owns 5,326 shares of the company's stock valued at $322,000 after buying an additional 350 shares during the period.

CONMED Stock Up 0.2%

Shares of CNMD stock traded up $0.11 on Friday, hitting $54.33. The stock had a trading volume of 250,665 shares, compared to its average volume of 446,752. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19. The business has a 50 day moving average price of $55.61 and a 200 day moving average price of $60.12. The company has a market cap of $1.68 billion, a PE ratio of 14.30, a P/E/G ratio of 1.40 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 2.26 and a debt-to-equity ratio of 0.91.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.14. CONMED had a net margin of 9.02% and a return on equity of 14.36%. The business had revenue of $321.26 million for the quarter, compared to the consensus estimate of $313.38 million. During the same quarter last year, the firm posted $0.79 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, June 13th. CONMED's dividend payout ratio (DPR) is 21.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CNMD shares. Needham & Company LLC downgraded CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target on the stock. in a report on Thursday, June 12th. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and reduced their price target for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Finally, Wall Street Zen lowered shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, CONMED has a consensus rating of "Hold" and an average target price of $62.20.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the sale, the director owned 16,346 shares of the company's stock, valued at approximately $930,741.24. This trade represents a 19.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.