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

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

CONMED Price Performance

Shares of CONMED stock traded up $0.72 on Thursday, hitting $63.22. 302,291 shares of the company traded hands, compared to its average volume of 479,268. The stock has a market capitalization of $1.95 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $86.96. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The business has a 50-day simple moving average of $69.78 and a 200 day simple moving average of $70.02.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping 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%. Research analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNMD. CWM LLC lifted its position in CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of CONMED by 3.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company’s stock worth $672,000 after purchasing an additional 333 shares during the period. Wedge Capital Management L L P NC bought a new position in CONMED during the 3rd quarter valued at about $3,200,000. Creative Planning raised its position in CONMED by 6.1% in the 3rd quarter. Creative Planning now owns 7,574 shares of the company’s stock worth $545,000 after purchasing an additional 438 shares during the period. Finally, ZWJ Investment Counsel Inc. bought a new stake in CONMED in the third quarter worth about $206,000.

Wall Street Analysts Forecast Growth

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