CONMED Corporation $CNMD Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its stake in CONMED Corporation (NYSE:CNMD - Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 349,872 shares of the company's stock after selling 6,893 shares during the period. Northern Trust Corp owned 1.13% of CONMED worth $21,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in CONMED in the first quarter valued at approximately $33,000. Aquatic Capital Management LLC acquired a new position in CONMED during the 4th quarter valued at approximately $82,000. GAMMA Investing LLC boosted its position in CONMED by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock valued at $80,000 after purchasing an additional 591 shares during the period. Quantinno Capital Management LP acquired a new position in shares of CONMED during the fourth quarter valued at $222,000. Finally, Cetera Investment Advisers acquired a new position in shares of CONMED during the first quarter valued at $202,000.

CONMED Price Performance

CNMD traded up $0.24 during trading on Friday, reaching $54.93. The stock had a trading volume of 412,311 shares, compared to its average volume of 360,961. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. CONMED Corporation has a 1-year low of $46.00 and a 1-year high of $78.19. The stock has a 50 day moving average of $52.45 and a two-hundred day moving average of $55.06.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $342.35 million during the quarter, compared to the consensus estimate of $338.42 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, equities analysts anticipate that CONMED Corporation will post 4.35 EPS for the current fiscal 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 15th. CONMED's dividend payout ratio is presently 22.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CNMD shares. Piper Sandler reduced their price target 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. Needham & Company LLC lowered shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 target price for the company. in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, CONMED has a consensus rating of "Hold" and a consensus target price 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.