CONMED Co. (NASDAQ:CNMD) VP Terence M. Berge sold 265 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $83.69, for a total value of $22,177.85. Following the completion of the transaction, the vice president now directly owns 19,908 shares of the company’s stock, valued at approximately $1,666,100.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ CNMD traded down $0.92 during trading on Tuesday, hitting $82.94. 124,128 shares of the company’s stock were exchanged, compared to its average volume of 289,620. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 1.16. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.46 and a beta of 0.60. CONMED Co. has a fifty-two week low of $56.90 and a fifty-two week high of $85.91.
CONMED (NASDAQ:CNMD) last issued its earnings results on Wednesday, April 24th. The medical technology company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. The firm had revenue of $218.38 million during the quarter, compared to the consensus estimate of $213.95 million. CONMED had a return on equity of 9.67% and a net margin of 3.56%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, sell-side analysts predict that CONMED Co. will post 2.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, June 13th. CONMED’s payout ratio is 36.70%.
A number of research analysts recently commented on the company. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 7th. Barclays boosted their price target on CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 price target (up previously from $87.00) on shares of CONMED in a research note on Tuesday, April 16th. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Monday, April 15th. Finally, Stifel Nicolaus assumed coverage on CONMED in a research note on Wednesday, April 17th. They issued a “buy” rating and a $95.00 price target for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $91.00.
A number of hedge funds and other institutional investors have recently modified their holdings of CNMD. Financial Gravity Companies Inc. acquired a new position in CONMED during the fourth quarter worth about $45,000. Quadrant Capital Group LLC raised its stake in CONMED by 2,888.0% during the first quarter. Quadrant Capital Group LLC now owns 747 shares of the medical technology company’s stock worth $61,000 after acquiring an additional 722 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in CONMED by 35.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,742 shares of the medical technology company’s stock worth $106,000 after acquiring an additional 454 shares in the last quarter. US Bancorp DE raised its stake in CONMED by 48.1% during the first quarter. US Bancorp DE now owns 1,324 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 430 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in CONMED during the first quarter worth about $189,000. 96.75% of the stock is owned by hedge funds and other institutional investors.
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CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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