CONMED Co. (NYSE:CNMD) Insider Sells $16,794.95 in Stock

CONMED Co. (NYSE:CNMD) insider Richard Glaze sold 257 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $65.35, for a total transaction of $16,794.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CONMED Price Performance

Shares of CONMED stock opened at $63.05 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The business has a 50 day simple moving average of $69.43 and a two-hundred day simple moving average of $69.93. The stock has a market capitalization of $1.95 billion, a P/E ratio of 14.87, a PEG ratio of 1.05 and a beta of 1.46. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $86.96.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. As a group, analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.27%. CONMED’s dividend payout ratio is presently 18.87%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in CONMED in the 4th quarter valued at $82,000. CWM LLC increased its stake in shares of CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after acquiring an additional 332 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after acquiring an additional 485 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after acquiring an additional 322 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Stifel Nicolaus lifted their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC reduced their target price on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, CONMED has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

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.