CONMED Corporation $CNMD Stock Position Lifted by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its position in shares of CONMED Corporation (NYSE:CNMD) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,690 shares of the company’s stock after buying an additional 3,493 shares during the period. Peregrine Capital Management LLC’s holdings in CONMED were worth $5,452,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in CONMED by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company’s stock worth $80,000 after buying an additional 591 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in CONMED by 46.5% during the 1st quarter. Raymond James Financial Inc. now owns 390,675 shares of the company’s stock worth $23,592,000 after buying an additional 124,050 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CONMED by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 257,712 shares of the company’s stock worth $15,308,000 after buying an additional 34,570 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in CONMED by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 634,677 shares of the company’s stock worth $38,328,000 after buying an additional 9,619 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in CONMED by 41.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock worth $74,747,000 after buying an additional 360,336 shares during the last quarter.

Insider Transactions at CONMED

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNMD shares. Piper Sandler reduced 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. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CONMED presently has a consensus rating of “Hold” and a consensus price target of $59.80.

CONMED Price Performance

Shares of NYSE CNMD opened at $47.30 on Tuesday. The stock has a market cap of $1.46 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.62 and a beta of 1.14. The firm’s 50-day simple moving average is $49.88 and its 200 day simple moving average is $52.21. CONMED Corporation has a fifty-two week low of $42.50 and a fifty-two week high of $78.00. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The firm had revenue of $342.35 million for the quarter, compared to analysts’ expectations of $338.42 million. During the same quarter last year, the company earned $0.98 EPS. CONMED’s quarterly revenue was up 3.1% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Equities analysts expect that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, September 15th. CONMED’s dividend payout ratio is 22.66%.

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.