CONMED Co. (NYSE:CNMD) Insider Stanley W. Peters III Sells 4,000 Shares

CONMED Co. (NYSE:CNMD - Get Free Report) insider Stanley W. Peters III sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $71.82, for a total value of $287,280.00. Following the sale, the insider now owns 63 shares in the company, valued at $4,524.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CONMED Trading Down 1.0 %

Shares of CONMED stock traded down $0.73 during trading hours on Monday, hitting $70.38. The company's stock had a trading volume of 493,091 shares, compared to its average volume of 543,919. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $138.29. The stock has a 50 day moving average of $73.36 and a 200 day moving average of $86.69. The company has a market capitalization of $2.17 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 0.68 and a beta of 1.43. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. CONMED had a return on equity of 13.78% and a net margin of 6.53%. The company had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. Analysts predict that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. CONMED's payout ratio is presently 30.65%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler lowered their price target on CONMED from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $107.00 price target on shares of CONMED in a research report on Monday, May 6th. Wells Fargo & Company lowered their price target on CONMED from $98.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on CONMED from $115.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $102.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in CONMED by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 305,136 shares of the company's stock valued at $30,773,000 after purchasing an additional 9,664 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in CONMED by 15.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,295 shares of the company's stock valued at $231,000 after purchasing an additional 308 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in CONMED by 11.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 22,037 shares of the company's stock valued at $2,222,000 after purchasing an additional 2,286 shares in the last quarter. Rhumbline Advisers grew its stake in CONMED by 0.8% in the third quarter. Rhumbline Advisers now owns 98,955 shares of the company's stock valued at $9,980,000 after purchasing an additional 793 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in CONMED in the third quarter valued at approximately $580,000.

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.