MetLife Investment Management LLC Decreases Stock Holdings in CONMED Corporation $CNMD

MetLife Investment Management LLC trimmed its holdings in shares of CONMED Corporation (NYSE:CNMD) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,607 shares of the company’s stock after selling 279 shares during the quarter. MetLife Investment Management LLC’s holdings in CONMED were worth $1,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CNMD. Susquehanna International Group LLP increased its position in shares of CONMED by 35.7% during the fourth quarter. Susquehanna International Group LLP now owns 29,733 shares of the company’s stock valued at $2,035,000 after acquiring an additional 7,830 shares during the last quarter. Northern Trust Corp increased its position in CONMED by 15.2% in the fourth quarter. Northern Trust Corp now owns 356,765 shares of the company’s stock worth $24,417,000 after buying an additional 47,078 shares during the last quarter. AXA S.A. increased its position in CONMED by 15.4% in the fourth quarter. AXA S.A. now owns 48,595 shares of the company’s stock worth $3,326,000 after buying an additional 6,500 shares during the last quarter. Captrust Financial Advisors increased its position in CONMED by 53.0% in the fourth quarter. Captrust Financial Advisors now owns 9,562 shares of the company’s stock worth $654,000 after buying an additional 3,311 shares during the last quarter. Finally, Brevan Howard Capital Management LP increased its position in CONMED by 178.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 12,740 shares of the company’s stock worth $872,000 after buying an additional 8,162 shares during the last quarter.

Wall Street Analysts Forecast Growth

CNMD has been the subject of a number of recent research reports. Needham & Company LLC downgraded 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 target price on CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, CONMED presently has an average rating of “Hold” and a consensus target price of $59.80.

CONMED Price Performance

CONMED stock opened at $54.69 on Friday. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19. The business has a fifty day moving average price of $52.39 and a 200-day moving average price of $55.11. 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 firm has a market capitalization of $1.69 billion, a P/E ratio of 15.49, a PEG ratio of 1.80 and a beta of 1.18.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $342.35 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. 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 year.

CONMED Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.5%. CONMED’s dividend payout ratio (DPR) is currently 22.66%.

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.