Allspring Global Investments Holdings LLC Has $11.11 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Allspring Global Investments Holdings LLC increased its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 75.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,446 shares of the company's stock after buying an additional 66,347 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.50% of CONMED worth $11,108,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of CONMED during the second quarter worth approximately $39,000. Innealta Capital LLC bought a new stake in CONMED during the 2nd quarter worth approximately $41,000. Hilltop National Bank increased its holdings in CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company's stock valued at $57,000 after purchasing an additional 195 shares in the last quarter. CWM LLC raised its position in CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company's stock valued at $64,000 after purchasing an additional 636 shares during the last quarter. Finally, nVerses Capital LLC boosted its stake in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $144,000 after purchasing an additional 1,700 shares in the last quarter.

CONMED Trading Down 0.3 %

NYSE CNMD traded down $0.16 during trading hours on Friday, hitting $62.15. The company's stock had a trading volume of 375,739 shares, compared to its average volume of 487,754. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $117.27. The firm has a market capitalization of $1.91 billion, a P/E ratio of 23.80, a PEG ratio of 0.82 and a beta of 1.46. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $69.76 and a 200 day moving average of $70.49.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The company had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. During the same quarter in the prior year, the business posted $0.83 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that CONMED Co. will post 3.99 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. CONMED's payout ratio is currently 30.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNMD. StockNews.com upgraded CONMED from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their price objective 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. Piper Sandler reduced their target price on shares of CONMED from $95.00 to $80.00 and set an "overweight" rating on the stock in a research 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 research note on Friday, October 4th. 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.