PDT Partners LLC Sells 29,597 Shares of CONMED Corporation $CNMD

PDT Partners LLC trimmed its position in CONMED Corporation (NYSE:CNMD) by 87.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,101 shares of the company’s stock after selling 29,597 shares during the period. PDT Partners LLC’s holdings in CONMED were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Graham Capital Management L.P. lifted its holdings in shares of CONMED by 31.0% in the first quarter. Graham Capital Management L.P. now owns 9,447 shares of the company’s stock valued at $571,000 after purchasing an additional 2,233 shares in the last quarter. PEAK6 LLC raised its holdings in CONMED by 124.1% during the first quarter. PEAK6 LLC now owns 7,471 shares of the company’s stock worth $451,000 after acquiring an additional 4,137 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in CONMED by 15.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock worth $133,000 after acquiring an additional 298 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in CONMED by 60.2% during the first quarter. Integrated Investment Consultants LLC now owns 4,894 shares of the company’s stock worth $296,000 after acquiring an additional 1,839 shares in the last quarter. Finally, CW Advisors LLC raised its holdings in CONMED by 36.5% during the first quarter. CW Advisors LLC now owns 11,926 shares of the company’s stock worth $720,000 after acquiring an additional 3,186 shares in the last quarter.

CONMED Price Performance

NYSE:CNMD opened at $54.93 on Friday. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $52.45 and its two-hundred day moving average price is $55.06. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.86 and a beta of 1.18. CONMED Corporation has a 12-month low of $46.00 and a 12-month high of $78.19.

CONMED (NYSE:CNMD) last released 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 firm had revenue of $342.35 million for 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 business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on CNMD. Needham & Company LLC lowered CONMED from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a report on Thursday, June 12th. Piper Sandler dropped their target price on CONMED from $80.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.80.

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.