Insider Selling: CONMED Co. (CNMD) VP Sells $120,645.00 in Stock

CONMED Co. (NASDAQ:CNMD) VP Stanley W. Peters III sold 1,500 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $80.43, for a total value of $120,645.00. Following the completion of the transaction, the vice president now owns 1,496 shares of the company’s stock, valued at approximately $120,323.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:CNMD opened at $78.76 on Thursday. CONMED Co. has a 1-year low of $49.09 and a 1-year high of $83.49. The company has a quick ratio of 1.15, a current ratio of 1.97 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.25 billion, a PE ratio of 38.10, a P/E/G ratio of 3.21 and a beta of 0.53.

CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, August 1st. The medical technology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. CONMED had a return on equity of 9.51% and a net margin of 8.85%. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $207.12 million. During the same period last year, the company earned $0.41 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. sell-side analysts predict that CONMED Co. will post 2.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 8th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. CONMED’s payout ratio is presently 42.33%.

Several large investors have recently modified their holdings of CNMD. Hood River Capital Management LLC purchased a new stake in shares of CONMED during the second quarter valued at $25,372,000. FMR LLC purchased a new stake in shares of CONMED during the second quarter valued at $20,992,000. BlackRock Inc. boosted its position in shares of CONMED by 8.4% during the first quarter. BlackRock Inc. now owns 3,558,330 shares of the medical technology company’s stock valued at $225,348,000 after buying an additional 276,513 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of CONMED by 4,203.7% during the second quarter. Citadel Advisors LLC now owns 147,015 shares of the medical technology company’s stock valued at $10,761,000 after buying an additional 143,599 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of CONMED during the first quarter valued at $6,517,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

CNMD has been the subject of several analyst reports. Leerink Swann raised their price target on CONMED from $76.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, August 30th. BidaskClub downgraded CONMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 11th. Zacks Investment Research downgraded CONMED from a “hold” rating to a “sell” rating in a report on Monday, August 6th. Finally, Needham & Company LLC raised their price target on CONMED from $73.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CONMED currently has an average rating of “Hold” and an average target price of $73.50.

About CONMED

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.

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Insider Buying and Selling by Quarter for CONMED (NASDAQ:CNMD)

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