CONMED Corporation $CNMD Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in CONMED Corporation (NYSE:CNMD) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,900 shares of the company’s stock after selling 700 shares during the quarter. Swiss National Bank owned 0.19% of CONMED worth $3,617,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Earnest Partners LLC increased 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 valued at $192,328,000 after acquiring an additional 25,876 shares during the period. Westwood Holdings Group Inc. increased 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 valued at $74,747,000 after acquiring an additional 360,336 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in CONMED in the 4th quarter valued at approximately $68,489,000. Fuller & Thaler Asset Management Inc. acquired a new stake in CONMED in the 4th quarter valued at approximately $59,046,000. Finally, Dimensional Fund Advisors LP increased 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 valued at $53,073,000 after acquiring an additional 57,149 shares during the period.

CONMED Stock Performance

Shares of NYSE CNMD opened at $53.4830 on Thursday. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.86 and a beta of 1.17. The stock’s fifty day simple moving average is $52.07 and its 200 day simple moving average is $56.09. CONMED Corporation has a 52-week low of $46.00 and a 52-week high of $78.19.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, sell-side analysts forecast 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. Investors of record on Monday, September 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, September 15th. CONMED’s payout ratio is presently 22.66%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNMD. Needham & Company LLC cut CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Thursday, June 12th. Piper Sandler lowered their price target on CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company lowered their price target on CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently 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.