CONMED Co. (NASDAQ:CNMD) EVP Peter K. Shagory sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $95.31, for a total transaction of $190,620.00. Following the sale, the executive vice president now directly owns 3,649 shares in the company, valued at approximately $347,786.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
CNMD stock opened at $94.12 on Friday. The stock has a market capitalization of $2.70 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 2.52 and a beta of 0.59. The company’s 50-day moving average is $88.56 and its 200-day moving average is $81.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.55 and a quick ratio of 1.44. CONMED Co. has a 1 year low of $56.90 and a 1 year high of $96.99.
CONMED (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, July 31st. The medical technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. The company had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $233.06 million. CONMED had a net margin of 3.13% and a return on equity of 9.95%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, analysts anticipate that CONMED Co. will post 2.55 earnings per share for the current fiscal year.
CNMD has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of CONMED from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BidaskClub raised shares of CONMED from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd. Zacks Investment Research raised shares of CONMED from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on shares of CONMED from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. CONMED presently has a consensus rating of “Buy” and a consensus target price of $95.40.
Several hedge funds have recently added to or reduced their stakes in CNMD. Altshuler Shaham Ltd purchased a new stake in CONMED in the 2nd quarter valued at about $27,000. Pearl River Capital LLC purchased a new stake in CONMED in the 2nd quarter valued at about $31,000. Quadrant Capital Group LLC increased its stake in CONMED by 2,888.0% in the 1st quarter. Quadrant Capital Group LLC now owns 747 shares of the medical technology company’s stock valued at $61,000 after buying an additional 722 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in CONMED by 272.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the medical technology company’s stock valued at $93,000 after buying an additional 796 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in CONMED in the 1st quarter valued at about $150,000. 96.75% of the stock is currently owned by institutional investors.
CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. 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.
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