Great Lakes Advisors LLC Boosts Stock Holdings in CONMED Corporation $CNMD

Key Points

• Great Lakes Advisors LLC increased its stake in CONMED Corporation by 29.1% in the first quarter, acquiring an additional 30,643 shares to own 136,042 shares by the end of the period.
• Several analysts have revised their price targets for CONMED, with Piper Sandler lowering their target from $80.00 to $68.00, indicating a consensus "Hold" rating among analysts.
• CONMED announced a quarterly dividend of $0.20 per share, with an upcoming payment to shareholders recorded on September 15th, reflecting a 1.5% yield.

Great Lakes Advisors LLC raised its holdings in CONMED Corporation (NYSE:CNMD - Free Report) by 29.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,042 shares of the company's stock after purchasing an additional 30,643 shares during the period. Great Lakes Advisors LLC owned 0.44% of CONMED worth $8,216,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in shares of 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of CONMED by 10,855.1% in the first quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock worth $4,803,000 after purchasing an additional 78,808 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of CONMED by 46.5% in the first quarter. Raymond James Financial Inc. now owns 390,675 shares of the company's stock worth $23,592,000 after purchasing an additional 124,050 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of CONMED by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 257,712 shares of the company's stock worth $15,308,000 after purchasing an additional 34,570 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of CONMED by 1.5% in the first quarter. Principal Financial Group Inc. now owns 634,677 shares of the company's stock worth $38,328,000 after purchasing an additional 9,619 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CNMD shares. Piper Sandler reduced their price objective on shares of CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Needham & Company LLC cut shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 price objective for the company. in a research note on Thursday, June 12th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CONMED has a consensus rating of "Hold" and a consensus price target of $59.80.

CONMED Price Performance

Shares of NYSE:CNMD opened at $53.78 on Tuesday. CONMED Corporation has a 12 month low of $46.00 and a 12 month high of $78.19. The stock has a market cap of $1.66 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.87 and a beta of 1.18. 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 company has a 50 day moving average of $52.48 and a 200 day moving average of $54.91.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $342.35 million during the quarter, compared to analyst estimates of $338.42 million. During the same period in the previous year, the business posted $0.98 earnings per share. CONMED's revenue for the quarter was up 3.1% on a year-over-year basis. 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 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given 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 1.5%. CONMED's payout ratio is presently 22.66%.

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.

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