Nuveen LLC Takes $4.92 Million Position in CONMED Corporation $CNMD

Key Points

• Nuveen LLC has invested approximately $4.92 million in CONMED Corporation, acquiring 81,519 shares during the first quarter.
• CONMED recently announced a quarterly dividend of $0.20 per share, representing an annualized yield of 1.5% and a dividend payout ratio of 22.66%.
• CONMED's stock has seen a recent increase of 0.7%, with a market capitalization of $1.69 billion and a price-to-earnings ratio of 15.48.

Nuveen LLC purchased a new position in CONMED Corporation (NYSE:CNMD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 81,519 shares of the company's stock, valued at approximately $4,923,000. Nuveen LLC owned about 0.26% of CONMED as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in shares of CONMED by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after buying an additional 217 shares during the last quarter. GAMMA Investing LLC lifted its position in CONMED by 10,855.1% in the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock valued at $4,803,000 after acquiring an additional 78,808 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CONMED by 15.5% in the 1st 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. Principal Financial Group Inc. increased its holdings in shares of CONMED by 1.5% in the 1st 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. Finally, Moran Wealth Management LLC bought a new stake in shares of CONMED in the 1st quarter worth $5,029,000.

CONMED Stock Performance

Shares of NYSE CNMD traded up $0.61 during midday trading on Monday, hitting $54.34. 228,637 shares of the stock traded hands, compared to its average volume of 457,504. The firm has a 50-day moving average of $52.27 and a two-hundred day moving average of $55.26. The firm has a market capitalization of $1.68 billion, a P/E ratio of 15.39, a PEG ratio of 1.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $342.35 million for the quarter, compared to analysts' expectations of $338.42 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The company's revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, equities analysts forecast that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a dividend of $0.20 per share. 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 dividend payout ratio is presently 22.66%.

Wall Street Analyst Weigh In

A number of research firms have commented on CNMD. Needham & Company LLC lowered CONMED from a "buy" rating to a "hold" rating and set a $61.00 target price for the company. in a report on Thursday, June 12th. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Piper Sandler reduced their target price on CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a 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.com, CONMED presently has a consensus rating of "Hold" and an average 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.