CONMED Co. (NYSE:CNMD - Get Free Report) insider Richard Glaze sold 257 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $65.35, for a total transaction of $16,794.95. The sale was disclosed in a document filed with the SEC, which is available through this link.
CONMED Trading Down 2.1 %
Shares of CONMED stock traded down $1.32 during trading on Monday, hitting $63.05. The stock had a trading volume of 467,955 shares, compared to its average volume of 463,932. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $1.95 billion, a PE ratio of 14.87, a P/E/G ratio of 1.05 and a beta of 1.46. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $86.96. The stock has a 50 day simple moving average of $69.19 and a 200 day simple moving average of $69.92.
CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. On average, research analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.
CONMED Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. CONMED's dividend payout ratio is 18.87%.
Wall Street Analyst Weigh In
CNMD has been the topic of a number of recent research reports. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Stifel Nicolaus increased their target price on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC lowered their price target 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. Finally, Wells Fargo & Company cut their price objective on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.20.
Get Our Latest Stock Report on CNMD
Institutional Trading of CONMED
A number of institutional investors have recently added to or reduced their stakes in CNMD. Blue Trust Inc. boosted its position in CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock worth $235,000 after purchasing an additional 145 shares during the period. Beverly Hills Private Wealth LLC lifted its stake in shares of CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company's stock worth $257,000 after buying an additional 168 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of CONMED by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock worth $221,000 after buying an additional 205 shares during the period. HighTower Advisors LLC grew its stake in CONMED by 4.1% in the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company's stock valued at $512,000 after buying an additional 275 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in CONMED by 5.0% in the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company's stock worth $419,000 after acquiring an additional 280 shares during the period.
About CONMED
(
Get Free Report)
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.
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