Cetera Investment Advisers Buys Shares of 3,339 CONMED Corporation $CNMD

Cetera Investment Advisers bought a new stake in CONMED Corporation (NYSE:CNMD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,339 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds have also added to or reduced their stakes in the company. Earnest Partners LLC lifted its stake in CONMED by 0.9% in the fourth 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 last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of CONMED during the 4th quarter valued at approximately $68,489,000. Dimensional Fund Advisors LP grew its holdings in shares of CONMED by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company’s stock valued at $53,073,000 after purchasing an additional 57,149 shares during the last quarter. Cooke & Bieler LP boosted its position in CONMED by 5.8% during the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock worth $42,431,000 after buying an additional 38,580 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 during the period.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus lowered shares of CONMED from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Piper Sandler lowered their price target 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. Wall Street Zen downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Wells Fargo & Company decreased their price objective on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.80.

CONMED Price Performance

NYSE CNMD opened at $55.8490 on Friday. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19. The stock has a 50-day moving average of $52.08 and a 200 day moving average of $55.85. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.81 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.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping 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 company had revenue of $342.35 million during the quarter, compared to the consensus estimate of $338.42 million. During the same period last year, the company earned $0.98 EPS. CONMED’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. On average, sell-side analysts forecast that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders 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 1.4%. The ex-dividend date is Monday, September 15th. CONMED’s payout ratio is currently 22.66%.

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.