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

CONMED Co. (NYSE:CNMD) insider Stanley W. Peters III sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $71.82, for a total value of $287,280.00. Following the transaction, the insider now directly owns 63 shares in the company, valued at $4,524.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CONMED Trading Down 1.0 %

Shares of CONMED stock opened at $70.38 on Tuesday. The company has a market capitalization of $2.17 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 0.68 and a beta of 1.43. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $73.36 and a 200 day simple moving average of $86.69. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $138.29.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. On average, sell-side analysts anticipate that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Wall Street Analyst Weigh In

CNMD has been the topic of a number of research reports. Wells Fargo & Company lowered their target price 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. Piper Sandler decreased their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $107.00 price target on shares of CONMED in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNMD. GAMMA Investing LLC bought a new position in CONMED in the 4th quarter valued at $40,000. Principal Securities Inc. bought a new position in CONMED in the 4th quarter valued at $46,000. AdvisorNet Financial Inc grew its stake in CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after purchasing an additional 745 shares during the period. Quadrant Capital Group LLC grew its stake in shares of CONMED by 44.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock worth $179,000 after acquiring an additional 500 shares during the period. Finally, Xponance Inc. bought a new position in shares of CONMED during the 4th quarter worth $204,000.

About CONMED

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.