CONMED Co. (NYSE:CNMD) VP Sells $181,335.00 in Stock

CONMED Co. (NYSE:CNMD – Get Rating) VP Stanley W. Peters III sold 1,500 shares of CONMED stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $120.89, for a total transaction of $181,335.00. Following the completion of the transaction, the vice president now owns 63 shares of the company’s stock, valued at approximately $7,616.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

CONMED Price Performance

Shares of NYSE:CNMD opened at $117.39 on Friday. The company has a current ratio of 1.96, a quick ratio of 0.84 and a debt-to-equity ratio of 1.32. CONMED Co. has a 12 month low of $71.09 and a 12 month high of $129.65. The stock has a market cap of $3.59 billion, a P/E ratio of -36.12, a P/E/G ratio of 1.94 and a beta of 1.38. The company has a 50 day moving average of $120.24 and a 200 day moving average of $106.02.

CONMED (NYSE:CNMD – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. CONMED had a negative net margin of 7.71% and a positive return on equity of 11.39%. The business had revenue of $295.47 million during the quarter, compared to analysts’ expectations of $266.66 million. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CONMED Co. will post 3.31 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.68%. CONMED’s dividend payout ratio is presently -24.62%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNMD. Piper Sandler lifted their target price on shares of CONMED from $118.00 to $128.00 in a research note on Thursday, April 27th. Stifel Nicolaus lifted their target price on shares of CONMED from $118.00 to $130.00 in a research note on Thursday, April 27th. Needham & Company LLC boosted their price objective on shares of CONMED from $122.00 to $135.00 in a research note on Thursday, April 27th. Wells Fargo & Company boosted their price objective on shares of CONMED from $96.00 to $119.00 in a research note on Thursday, April 27th. Finally, StockNews.com initiated coverage on shares of CONMED in a research note on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.40.

Hedge Funds Weigh In On CONMED

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC lifted its holdings in shares of CONMED by 8.1% in the 3rd quarter. Park Avenue Securities LLC now owns 2,950 shares of the company’s stock worth $237,000 after acquiring an additional 222 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of CONMED by 15.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 33,573 shares of the company’s stock worth $2,691,000 after acquiring an additional 4,574 shares during the last quarter. Brinker Capital Investments LLC lifted its holdings in shares of CONMED by 4.5% in the 3rd quarter. Brinker Capital Investments LLC now owns 9,233 shares of the company’s stock worth $740,000 after acquiring an additional 399 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of CONMED by 3.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 10,098 shares of the company’s stock worth $810,000 after acquiring an additional 373 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of CONMED by 18.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 17,412 shares of the company’s stock worth $1,396,000 after acquiring an additional 2,744 shares during the last quarter.

About CONMED

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CONMED Corp. operates as a medical technology company, which engages in the development, manufacturing, and sale of surgical devices and related equipment. It operates through the United States, Europe, Middle East, and Africa, and Asia Pacific geographical segments. Its products are used by surgeons and physicians in a variety of medical specialties, including orthopedic surgery, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.