Westwood Holdings Group Inc. Increases Stake in CONMED Corporation (NYSE:CNMD)

Westwood Holdings Group Inc. grew its position in CONMED Corporation (NYSE:CNMD - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,237,735 shares of the company's stock after acquiring an additional 360,336 shares during the quarter. Westwood Holdings Group Inc. owned about 4.00% of CONMED worth $74,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Earnest Partners LLC increased its stake 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 buying an additional 25,876 shares during the period. Capital Research Global Investors increased its stake in CONMED by 2.1% in the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after buying an additional 32,630 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in CONMED in the 4th quarter worth about $68,489,000. Fuller & Thaler Asset Management Inc. purchased a new position in CONMED in the 4th quarter worth about $59,046,000. Finally, Dimensional Fund Advisors LP increased its stake 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 buying an additional 57,149 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNMD. Wells Fargo & Company reduced their price target on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Piper Sandler dropped their target price on shares of CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Needham & Company LLC cut shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 target price on the stock. in a report on Thursday, June 12th. JPMorgan Chase & Co. dropped their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and dropped their target price for the stock from $75.00 to $55.00 in a report on Monday, April 28th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $59.80.

CONMED Stock Down 0.1%

NYSE:CNMD opened at $53.42 on Wednesday. CONMED Corporation has a fifty-two week low of $46.00 and a fifty-two week high of $78.19. The stock has a market capitalization of $1.65 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The company's 50-day simple moving average is $52.89 and its 200-day simple moving average is $57.28.

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 analysts' consensus estimates of $1.13 by $0.02. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The business had revenue of $342.35 million for the quarter, compared to analysts' expectations of $338.42 million. During the same period last year, the business earned $0.98 EPS. The company's revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.20 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.5%. CONMED's dividend payout ratio (DPR) is 22.66%.

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.

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