Curt R. Hartman Sells 3,500 Shares of CONMED Co. (NYSE:CNMD) Stock

CONMED Co. (NYSE:CNMDGet Rating) CEO Curt R. Hartman sold 3,500 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $93.94, for a total transaction of $328,790.00. Following the completion of the transaction, the chief executive officer now directly owns 10,299 shares in the company, valued at approximately $967,488.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CONMED Stock Performance

Shares of CONMED stock opened at $91.49 on Friday. The firm has a market capitalization of $2.79 billion, a P/E ratio of -23.10, a P/E/G ratio of 2.51 and a beta of 1.50. CONMED Co. has a 52 week low of $85.69 and a 52 week high of $159.11. The company has a quick ratio of 1.43, a current ratio of 2.87 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average is $96.63 and its two-hundred day moving average is $99.06.

CONMED (NYSE:CNMDGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $277.19 million for the quarter, compared to analyst estimates of $273.78 million. CONMED had a negative net margin of 10.93% and a positive return on equity of 13.94%. Research analysts forecast that CONMED Co. will post 3.32 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.80 annualized dividend and a yield of 0.87%. CONMED’s dividend payout ratio is currently -20.20%.

Analyst Ratings Changes

CNMD has been the topic of a number of recent analyst reports. Piper Sandler decreased their target price on shares of CONMED from $160.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. StockNews.com upgraded shares of CONMED from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Stifel Nicolaus cut their target price on shares of CONMED from $160.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Needham & Company LLC cut their target price on shares of CONMED from $155.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Finally, TheStreet lowered shares of CONMED from a “b-” rating to a “c+” rating in a research note on Tuesday, June 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.33.

Hedge Funds Weigh In On CONMED

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of CONMED by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,188,672 shares of the company’s stock worth $473,678,000 after acquiring an additional 20,024 shares during the last quarter. Capital Research Global Investors grew its position in shares of CONMED by 1.1% during the first quarter. Capital Research Global Investors now owns 1,139,356 shares of the company’s stock worth $169,251,000 after acquiring an additional 12,300 shares during the last quarter. State Street Corp grew its position in shares of CONMED by 0.4% during the second quarter. State Street Corp now owns 1,047,129 shares of the company’s stock worth $100,483,000 after acquiring an additional 3,737 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of CONMED by 4.3% during the first quarter. Loomis Sayles & Co. L P now owns 774,997 shares of the company’s stock worth $115,126,000 after acquiring an additional 31,892 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of CONMED by 2.0% during the second quarter. Macquarie Group Ltd. now owns 720,246 shares of the company’s stock worth $68,971,000 after acquiring an additional 14,392 shares during the last quarter.

CONMED Company Profile

(Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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