CONMED Co. (NYSE:CNMD) Insider Richard Glaze Sells 257 Shares

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

CONMED Trading Up 1.3 %

CNMD stock traded up $0.80 during midday trading on Thursday, reaching $63.30. The company’s stock had a trading volume of 302,291 shares, compared to its average volume of 479,268. The business’s 50-day simple moving average is $69.78 and its 200-day simple moving average is $70.02. The stock has a market cap of $1.96 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. 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 52 week low of $61.05 and a 52 week high of $86.96.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Investors Weigh In On CONMED

A number of large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC bought a new position in CONMED during the 4th quarter valued at $21,395,000. Raymond James Financial Inc. purchased a new position in shares of CONMED in the fourth quarter valued at $18,248,000. Fisher Asset Management LLC raised its stake in shares of CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock valued at $28,569,000 after purchasing an additional 122,140 shares during the period. Confluence Investment Management LLC lifted its holdings in CONMED by 188.9% during the 3rd quarter. Confluence Investment Management LLC now owns 146,942 shares of the company’s stock worth $10,568,000 after purchasing an additional 96,081 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in CONMED during the 4th quarter valued at about $5,790,000.

Wall Street Analysts Forecast Growth

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

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.