State of Alaska Department of Revenue Boosts Stock Holdings in CONMED Corporation $CNMD

State of Alaska Department of Revenue boosted its stake in shares of CONMED Corporation (NYSE:CNMD) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,397 shares of the company’s stock after purchasing an additional 1,280 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of CONMED worth $957,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CNMD. GAMMA Investing LLC increased its holdings in CONMED by 10,855.1% during the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company’s stock worth $4,803,000 after purchasing an additional 78,808 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of CONMED in the 1st quarter valued at approximately $1,289,000. Exchange Traded Concepts LLC increased its holdings in CONMED by 2.3% in the first quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company’s stock valued at $586,000 after buying an additional 217 shares during the last quarter. QRG Capital Management Inc. increased its holdings 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 buying an additional 350 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in CONMED by 49.5% in the first quarter. Blue Trust Inc. now owns 5,140 shares of the company’s stock valued at $310,000 after buying an additional 1,702 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a report on Saturday, September 27th. Needham & Company LLC downgraded 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. Finally, Piper Sandler dropped their price objective on CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CONMED has a consensus rating of “Hold” and an average price target of $59.80.

CONMED Stock Up 3.3%

CNMD opened at $48.12 on Monday. CONMED Corporation has a 12 month low of $45.06 and a 12 month high of $78.00. 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 business has a 50 day simple moving average of $51.93 and a 200-day simple moving average of $53.53. The stock has a market capitalization of $1.49 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.64 and a beta of 1.14.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The company had revenue of $342.35 million during the quarter, compared to the consensus estimate of $338.42 million. During the same quarter last year, the company earned $0.98 earnings per share. CONMED’s quarterly 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, equities analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, September 15th. CONMED’s dividend payout ratio (DPR) is presently 22.66%.

Insider Activity

In related news, Director Charles Farkas sold 2,000 shares of CONMED stock in a transaction 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 completion of the transaction, the director directly owned 14,859 shares of the company’s stock, valued at approximately $795,253.68. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

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.