GAMMA Investing LLC Acquires 225 Shares of CONMED Corporation $CNMD

GAMMA Investing LLC raised its holdings in CONMED Corporation (NYSE:CNMD) by 17.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,542 shares of the company’s stock after purchasing an additional 225 shares during the period. GAMMA Investing LLC’s holdings in CONMED were worth $80,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new stake in shares of CONMED in the first quarter valued at approximately $33,000. Smartleaf Asset Management LLC lifted its position in shares of CONMED by 15.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock valued at $133,000 after acquiring an additional 298 shares during the period. Cetera Investment Advisers acquired a new stake in shares of CONMED during the 1st quarter worth $202,000. Kovitz Investment Group Partners LLC bought a new position in shares of CONMED in the first quarter worth $204,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of CONMED in the first quarter worth $269,000.

CONMED Stock Performance

Shares of CONMED stock opened at $46.56 on Friday. The company’s 50 day moving average price is $51.99 and its two-hundred day moving average price is $53.69. The firm has a market capitalization 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 fifty-two week low of $45.06 and a fifty-two week 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.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating 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 company had revenue of $342.35 million for the quarter, compared to the consensus estimate of $338.42 million. During the same quarter last year, the business posted $0.98 EPS. CONMED’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. On average, equities analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, September 15th. CONMED’s payout ratio is currently 22.66%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNMD. Piper Sandler reduced their price objective on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Needham & Company LLC lowered shares of 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.80.

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.