Northern Trust Corp Decreases Position in CONMED Corporation $CNMD

Northern Trust Corp cut its stake in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 349,872 shares of the company's stock after selling 6,893 shares during the period. Northern Trust Corp owned about 1.13% of CONMED worth $21,129,000 at the end of the most recent quarter.

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

CONMED Price Performance

Shares of CNMD stock traded up $0.24 during trading hours on Friday, hitting $54.93. The stock had a trading volume of 412,311 shares, compared to its average volume of 360,961. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The stock's 50-day moving average price is $52.45 and its two-hundred day moving average price is $55.00. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.87 and a beta of 1.18.

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

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 15th. CONMED's payout ratio is 22.66%.

Analyst Upgrades and Downgrades

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

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.