Creative Planning Boosts Stake in CONMED Co. (NYSE:CNMD)

Creative Planning lifted its holdings in CONMED Co. (NYSE:CNMD) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,574 shares of the company’s stock after buying an additional 438 shares during the period. Creative Planning’s holdings in CONMED were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in CONMED during the second quarter worth about $39,000. Innealta Capital LLC acquired a new stake in CONMED during the second quarter worth about $41,000. Hilltop National Bank increased its position in CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the last quarter. CWM LLC increased its position in CONMED by 224.7% during the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after purchasing an additional 636 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in CONMED during the second quarter worth about $167,000.

CONMED Trading Up 5.0 %

Shares of CNMD stock opened at $74.01 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The stock has a market capitalization of $2.28 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. The company has a 50 day moving average price of $69.48 and a 200 day moving average price of $70.05. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $117.27.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Equities research analysts predict that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Monday, September 16th. CONMED’s dividend payout ratio (DPR) is currently 19.00%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNMD shares. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler dropped their price target on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.80.

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.