Russell Investments Group Ltd. Has $1.96 Million Stock Position in CONMED Corporation $CNMD

Russell Investments Group Ltd. grew its position in CONMED Corporation (NYSE:CNMD) by 85.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,427 shares of the company’s stock after buying an additional 14,910 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of CONMED worth $1,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. boosted its holdings in shares of CONMED by 41.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock worth $74,747,000 after buying an additional 360,336 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in shares of CONMED in the fourth quarter worth approximately $68,489,000. Dimensional Fund Advisors LP lifted its position in shares of CONMED by 8.0% in the fourth 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. Cooke & Bieler LP lifted its position in shares of CONMED by 5.8% in the first quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock worth $42,431,000 after purchasing an additional 38,580 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of CONMED by 1.5% in the first 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 in the last quarter.

CONMED Price Performance

Shares of CNMD opened at $54.64 on Wednesday. The firm has a market cap of $1.69 billion, a PE ratio of 15.48, a PEG ratio of 1.85 and a beta of 1.17. The firm’s 50 day moving average price is $52.15 and its 200 day moving average price is $55.55. 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 Corporation has a twelve month low of $46.00 and a twelve month high of $78.19.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, research analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

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

Wall Street Analysts Forecast Growth

CNMD has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research report on Thursday, June 12th. Wall Street Zen lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Wells Fargo & Company reduced their price target on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating for the company 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 for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.