GAMMA Investing LLC Raises Holdings in CONMED Corporation $CNMD

GAMMA Investing LLC lifted its holdings in CONMED Corporation (NYSE:CNMD) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,542 shares of the company’s stock after buying an additional 225 shares during the quarter. GAMMA Investing LLC’s holdings in CONMED were worth $80,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avity Investment Management Inc. lifted its holdings in CONMED by 36.9% in the first quarter. Avity Investment Management Inc. now owns 5,565 shares of the company’s stock valued at $336,000 after acquiring an additional 1,500 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of CONMED during the 1st quarter worth about $1,289,000. Exchange Traded Concepts LLC grew its stake in CONMED by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company’s stock worth $586,000 after acquiring an additional 217 shares during the period. QRG Capital Management Inc. increased its stake in CONMED by 7.0% in the first quarter. QRG Capital Management Inc. now owns 5,326 shares of the company’s stock valued at $322,000 after purchasing an additional 350 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of CONMED by 49.5% during the 1st quarter. Blue Trust Inc. now owns 5,140 shares of the company’s stock worth $310,000 after acquiring an additional 1,702 shares during the period.

Insider Activity at CONMED

In related news, Director Charles Farkas sold 2,000 shares of CONMED stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the sale, the director directly owned 14,859 shares in the company, valued at $795,253.68. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CNMD. Needham & Company LLC downgraded shares of CONMED from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research report on Thursday, June 12th. Piper Sandler decreased 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.80.

CONMED Stock Down 1.3%

Shares of CONMED stock opened at $46.56 on Friday. The stock has a 50-day moving average price of $51.99 and a 200 day moving average price of $53.69. The company has a market cap of $1.44 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.61 and a beta of 1.14. CONMED Corporation has a 1 year low of $45.06 and a 1 year high of $78.00. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88.

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 the consensus estimate of $1.13 by $0.02. The company had revenue of $342.35 million during 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 revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, 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. Shareholders of record on Monday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. CONMED’s payout ratio is currently 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.