CONMED Corporation $CNMD Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its position in shares of CONMED Corporation (NYSE:CNMD) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,474 shares of the company’s stock after acquiring an additional 3,291 shares during the period. Public Employees Retirement System of Ohio owned about 0.14% of CONMED worth $2,264,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in CONMED during the 1st quarter worth about $33,000. GAMMA Investing LLC lifted its stake in CONMED by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company’s stock worth $80,000 after acquiring an additional 591 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in CONMED by 15.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock worth $133,000 after acquiring an additional 298 shares in the last quarter. Cetera Investment Advisers acquired a new stake in CONMED in the 1st quarter valued at about $202,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in CONMED in the 1st quarter valued at about $204,000.

Analyst Ratings Changes

A number of research firms have issued reports on CNMD. Piper Sandler reduced 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. Needham & Company LLC lowered 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. 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 has an average rating of “Hold” and an average target price of $59.80.

CONMED Price Performance

Shares of NYSE CNMD opened at $46.56 on Friday. 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 fifty-two week low of $45.06 and a fifty-two week high of $78.00. The firm has a market capitalization of $1.44 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. The stock’s 50-day simple moving average is $51.99 and its 200-day simple moving average is $53.69.

CONMED (NYSE:CNMD) last released its quarterly 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 firm had revenue of $342.35 million for the quarter, compared to the consensus estimate of $338.42 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, equities research analysts forecast that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors 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 yield of 1.7%. The ex-dividend date is Monday, September 15th. CONMED’s dividend payout ratio (DPR) is currently 22.66%.

Insider Transactions at CONMED

In related news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the transaction, the director owned 14,859 shares in the company, valued at $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by corporate insiders.

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.