CONMED Co. (NASDAQ:CNMD) EVP Peter K. Shagory sold 3,000 shares of CONMED stock in a transaction on Friday, March 8th. The stock was sold at an average price of $77.77, for a total value of $233,310.00. Following the transaction, the executive vice president now directly owns 4,649 shares of the company’s stock, valued at approximately $361,552.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
CONMED stock opened at $77.82 on Friday. The stock has a market cap of $2.21 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.80 and a beta of 0.66. CONMED Co. has a 52 week low of $56.90 and a 52 week high of $83.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.33 and a quick ratio of 1.37.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Tuesday, January 22nd. The medical technology company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $228.40 million. CONMED had a return on equity of 9.65% and a net margin of 4.75%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. As a group, sell-side analysts forecast that CONMED Co. will post 2.44 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded CONMED from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. BidaskClub raised CONMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Needham & Company LLC lifted their price target on CONMED to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Finally, Barclays assumed coverage on CONMED in a research note on Tuesday, February 19th. They set an “overweight” rating and a $85.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $83.00.
Institutional investors have recently bought and sold shares of the stock. Financial Gravity Companies Inc. purchased a new stake in CONMED during the 4th quarter worth about $45,000. First Quadrant L P CA purchased a new stake in CONMED during the 4th quarter worth about $78,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in CONMED by 35.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,742 shares of the medical technology company’s stock valued at $106,000 after buying an additional 454 shares during the period. Quantamental Technologies LLC purchased a new stake in CONMED in the 4th quarter valued at about $161,000. Finally, LS Investment Advisors LLC grew its holdings in CONMED by 252.1% in the 4th quarter. LS Investment Advisors LLC now owns 2,975 shares of the medical technology company’s stock valued at $191,000 after buying an additional 2,130 shares during the period. Hedge funds and other institutional investors own 94.96% of the company’s stock.
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CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
See Also: Institutional Investors
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