CONMED Corporation $CNMD Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its stake in CONMED Corporation (NYSE:CNMD) by 14.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,275 shares of the company’s stock after selling 1,525 shares during the quarter. Diversified Trust Co’s holdings in CONMED were worth $483,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Westwood Holdings Group Inc. lifted its position in CONMED by 41.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after buying an additional 360,336 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in CONMED by 36.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after buying an additional 311,288 shares during the last quarter. Cooke & Bieler LP lifted its position in CONMED by 5.8% in the first quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock valued at $42,431,000 after buying an additional 38,580 shares during the last quarter. Principal Financial Group Inc. lifted its position in CONMED by 1.5% in the first quarter. Principal Financial Group Inc. now owns 634,677 shares of the company’s stock valued at $38,328,000 after buying an additional 9,619 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in CONMED by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 398,250 shares of the company’s stock valued at $24,050,000 after buying an additional 15,300 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on CNMD shares. 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 research report on Thursday, June 12th. Piper Sandler cut their price target on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.80.

Insider Buying and Selling

In other CONMED news, Director Charles Farkas sold 2,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the transaction, the director directly owned 14,859 shares in the company, valued at $795,253.68. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

CONMED Stock Performance

Shares of CONMED stock opened at $48.59 on Wednesday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.70 and a beta of 1.18. CONMED Corporation has a 52 week low of $46.00 and a 52 week high of $78.00. 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 firm’s 50 day moving average is $52.30 and its two-hundred day moving average is $54.31.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company 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 firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Research analysts forecast that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The business 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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, September 15th. CONMED’s dividend 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.