CONMED Corporation $CNMD Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in CONMED Corporation by 1.9%, selling 68,845 shares, and now owns approximately 11.33% of the company, valued at $211.7 million.
• Recent analyst ratings have led to a decline in CONMED's stock ratings, with several firms lowering their price targets, indicating a more cautious outlook on its stock performance.
• CONMED has announced a quarterly dividend of $0.20 per share, representing a 1.5% yield, with the ex-dividend date set for September 15th.

Vanguard Group Inc. lowered its position in CONMED Corporation (NYSE:CNMD - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,505,575 shares of the company's stock after selling 68,845 shares during the period. Vanguard Group Inc. owned approximately 11.33% of CONMED worth $211,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Earnest Partners LLC boosted its position in CONMED by 0.9% in the 4th 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. boosted its position in CONMED by 41.1% in the 1st 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. Silvercrest Asset Management Group LLC purchased a new stake in CONMED in the 4th quarter worth approximately $68,489,000. Fuller & Thaler Asset Management Inc. purchased a new stake in CONMED in the 4th quarter worth approximately $59,046,000. Finally, Dimensional Fund Advisors LP boosted its position in CONMED by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company's stock worth $53,073,000 after purchasing an additional 57,149 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CNMD shares. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Needham & Company LLC lowered 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. JPMorgan Chase & Co. decreased their target price on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Wells Fargo & Company decreased their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $59.80.

CONMED Price Performance

CNMD stock traded up $2.7790 during midday trading on Friday, reaching $55.8490. The stock had a trading volume of 509,181 shares, compared to its average volume of 558,214. The company's fifty day simple moving average is $52.08 and its 200 day simple moving average is $55.85. 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 market cap of $1.73 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. CONMED Corporation has a 52-week low of $46.00 and a 52-week high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The company had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. During the same quarter last year, the firm posted $0.98 EPS. The firm'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 predict that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. CONMED's dividend payout ratio (DPR) is 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.