Osterweis Capital Management Inc. Raises Holdings in CONMED Corporation $CNMD

Key Points

• Osterweis Capital Management Inc. increased its stake in CONMED Corporation by 21.8%, owning 227,805 shares valued at approximately $13.76 million.
• Several hedge funds, including Summit Investment Advisors and First Trust Advisors, also boosted their holdings in CONMED during the fourth quarter.
• Equity analysts have downgraded CONMED's stock, with multiple firms reducing their price targets, reflecting a consensus rating of "Hold" and a target price around $59.80.

Osterweis Capital Management Inc. increased its holdings in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,805 shares of the company's stock after purchasing an additional 40,835 shares during the quarter. Osterweis Capital Management Inc. owned approximately 0.74% of CONMED worth $13,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Earnest Partners LLC grew its position in shares of CONMED by 0.9% during the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock worth $192,328,000 after purchasing an additional 25,876 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of CONMED by 41.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock worth $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of CONMED by 36.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company's stock worth $70,900,000 after purchasing an additional 311,288 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in CONMED during the fourth quarter valued at approximately $68,489,000. Finally, Dimensional Fund Advisors LP boosted its stake in CONMED by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company's stock valued at $53,073,000 after buying an additional 57,149 shares during the last quarter.

CONMED Trading Down 1.6%

Shares of NYSE:CNMD traded down $0.8950 during trading on Monday, hitting $54.9150. The company had a trading volume of 75,800 shares, compared to its average volume of 480,579. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19. The company has a fifty day simple moving average of $52.08 and a two-hundred day simple moving average of $55.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.43% and a net margin of 8.31%.The business had revenue of $342.35 million during the quarter, compared to analyst estimates of $338.42 million. During the same period last year, the company earned $0.98 EPS. The company'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, equities analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 15th. CONMED's dividend payout ratio (DPR) is currently 22.66%.

Analysts Set New Price Targets

CNMD has been the subject of a number of research reports. Needham & Company LLC lowered CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target for the company. in a research note on Thursday, June 12th. Wells Fargo & Company dropped their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Stifel Nicolaus lowered CONMED from a "buy" rating to a "hold" rating and dropped their price target for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Finally, Piper Sandler dropped their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. One investment 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 an average rating of "Hold" and an average price target of $59.80.

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.