Ninety One UK Ltd Invests $1 Million in CONMED Corporation $CNMD

Ninety One UK Ltd acquired a new position in CONMED Corporation (NYSE:CNMD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 19,247 shares of the company’s stock, valued at approximately $1,002,000.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in CONMED by 2.3% during 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 last quarter. GAMMA Investing LLC grew its holdings in shares of CONMED by 17.1% during the second quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock worth $80,000 after purchasing an additional 225 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of CONMED by 4.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,462 shares of the company’s stock valued at $330,000 after buying an additional 239 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in CONMED by 15.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock worth $133,000 after buying an additional 298 shares in the last quarter. Finally, Connable Office Inc. grew its holdings in CONMED by 5.7% during the 1st quarter. Connable Office Inc. now owns 6,092 shares of the company’s stock worth $368,000 after acquiring an additional 326 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC lowered 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. Piper Sandler dropped 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 research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, CONMED has a consensus rating of “Hold” and an average target price of $59.80.

Insider Activity

In related news, Director Charles Farkas sold 2,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 14,859 shares of the company’s stock, valued at approximately $795,253.68. This represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

CONMED Trading Up 0.3%

CNMD opened at $47.17 on Thursday. The firm’s fifty day moving average is $52.05 and its two-hundred day moving average is $53.79. The firm has a market cap of $1.46 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. CONMED Corporation has a twelve month low of $45.06 and a twelve month high of $78.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $342.35 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Equities research analysts anticipate 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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, September 15th. CONMED’s payout ratio is 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.