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

CONMED Co. (NYSE:CNMD) insider Richard Glaze sold 257 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.35, for a total value of $16,794.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CONMED Stock Performance

Shares of CNMD opened at $63.05 on Friday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The company’s fifty day moving average is $69.43 and its 200-day moving average is $69.93. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $86.96.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. Equities analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On CONMED

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNMD. Northern Trust Corp raised its position in shares of CONMED by 15.2% in the fourth quarter. Northern Trust Corp now owns 356,765 shares of the company’s stock valued at $24,417,000 after purchasing an additional 47,078 shares during the period. Earnest Partners LLC raised its holdings in CONMED by 0.9% in the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company’s stock worth $192,328,000 after acquiring an additional 25,876 shares during the period. Aquatic Capital Management LLC acquired a new position in CONMED during the 4th quarter worth $82,000. Fuller & Thaler Asset Management Inc. bought a new stake in CONMED during the fourth quarter valued at about $59,046,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of CONMED by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 149,670 shares of the company’s stock valued at $10,244,000 after purchasing an additional 3,260 shares during the last quarter.

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.