CONMED Corporation $CNMD Stake Boosted by CW Advisors LLC

CW Advisors LLC increased its stake in CONMED Corporation (NYSE:CNMD) by 36.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,926 shares of the company’s stock after purchasing an additional 3,186 shares during the quarter. CW Advisors LLC’s holdings in CONMED were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in CONMED in the 1st quarter worth about $33,000. GAMMA Investing LLC grew its stake in CONMED by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company’s stock valued at $80,000 after acquiring an additional 591 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in CONMED during the 4th quarter valued at about $82,000. Cetera Investment Advisers purchased a new position in CONMED during the 1st quarter valued at about $202,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in CONMED during the 1st quarter valued at about $204,000.

CONMED Stock Up 0.7%

CNMD opened at $54.64 on Wednesday. The business has a 50 day moving average price of $52.15 and a 200 day moving average price of $55.55. CONMED Corporation has a twelve month low of $46.00 and a twelve month high of $78.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The firm has a market cap of $1.69 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The firm had revenue of $342.35 million during the quarter, compared to analyst estimates of $338.42 million. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. 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 year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, September 15th. CONMED’s payout ratio is 22.66%.

Analysts Set New Price Targets

CNMD has been the topic of several research analyst reports. Wall Street Zen cut CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC cut CONMED from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research note on Thursday, June 12th. Finally, Piper Sandler lowered their target price on CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $59.80.

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.