abrdn plc Has $11.92 Million Holdings in CONMED Co. (NYSE:CNMD)

abrdn plc trimmed its stake in CONMED Co. (NYSE:CNMD) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 165,778 shares of the company’s stock after selling 14,859 shares during the period. abrdn plc’s holdings in CONMED were worth $11,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in CONMED by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock worth $276,823,000 after acquiring an additional 36,823 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of CONMED by 18.9% in the 2nd quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock valued at $195,386,000 after purchasing an additional 447,498 shares during the period. Champlain Investment Partners LLC raised its stake in CONMED by 36.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company’s stock worth $104,349,000 after buying an additional 345,735 shares during the period. Deerfield Management Company L.P. Series C increased its holdings in CONMED by 86.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock worth $43,759,000 after purchasing an additional 293,099 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of CONMED by 49.8% in the second quarter. Cooke & Bieler LP now owns 628,621 shares of the company’s stock valued at $43,576,000 after acquiring an additional 209,064 shares in the last quarter.

CONMED Stock Up 3.1 %

Shares of NYSE CNMD opened at $70.37 on Friday. The firm’s 50-day moving average is $69.52 and its two-hundred day moving average is $70.12. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.34 and a quick ratio of 1.13. The company has a market capitalization of $2.17 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.46. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $117.27.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 14.15% and a net margin of 10.23%. Equities analysts anticipate that CONMED Co. will post 3.99 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, September 16th. CONMED’s dividend payout ratio is currently 19.00%.

Wall Street Analysts Forecast Growth

CNMD has been the subject of several research analyst reports. StockNews.com upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their target price on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Thursday. Piper Sandler lowered their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.