HighTower Advisors LLC Cuts Stock Holdings in CONMED Corporation $CNMD

HighTower Advisors LLC reduced its position in shares of CONMED Corporation (NYSE:CNMD) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,541 shares of the company’s stock after selling 265 shares during the period. HighTower Advisors LLC’s holdings in CONMED were worth $395,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in CONMED in the first quarter valued at about $33,000. GAMMA Investing LLC grew its position in shares of CONMED by 81.4% in the first quarter. GAMMA Investing LLC now owns 1,317 shares of the company’s stock valued at $80,000 after purchasing an additional 591 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $82,000. Cetera Investment Advisers acquired a new stake in shares of CONMED in the first quarter valued at approximately $202,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $222,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNMD shares. Wall Street Zen lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Piper Sandler decreased 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. Finally, Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a report on Thursday, June 12th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, CONMED has a consensus rating of “Hold” and a consensus target price of $59.80.

CONMED Stock Performance

Shares of CNMD stock opened at $54.34 on Monday. CONMED Corporation has a 12 month low of $46.00 and a 12 month high of $78.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The firm has a market capitalization of $1.68 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.85 and a beta of 1.18. The company’s fifty day moving average price is $52.27 and its two-hundred day moving average price is $55.26.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping 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 firm had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. During the same quarter in the previous year, the business posted $0.98 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, research 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 will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. CONMED’s payout ratio is presently 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.