CONMED Co. (NYSE:CNMD) CFO Todd W. Garner Sells 30,000 Shares

CONMED Co. (NYSE:CNMD – Get Rating) CFO Todd W. Garner sold 30,000 shares of the stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $90.93, for a total transaction of $2,727,900.00. Following the transaction, the chief financial officer now owns 1,115 shares of the company’s stock, valued at approximately $101,386.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CONMED Stock Up 3.3 %

Shares of NYSE:CNMD opened at $93.12 on Wednesday. The stock’s 50-day simple moving average is $96.81. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.75 and a quick ratio of 1.29. CONMED Co. has a twelve month low of $71.09 and a twelve month high of $155.51. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -32.79, a PEG ratio of 2.99 and a beta of 1.35.

CONMED (NYSE:CNMD – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.51). CONMED had a negative net margin of 7.71% and a positive return on equity of 11.47%. The firm had revenue of $250.87 million during the quarter, compared to the consensus estimate of $302.48 million. During the same quarter last year, the business posted $1.07 earnings per share. CONMED’s revenue was down 8.4% compared to the same quarter last year. Analysts anticipate that CONMED Co. will post 3.32 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.86%. CONMED’s dividend payout ratio (DPR) is currently -28.17%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNMD. Needham & Company LLC increased their target price on shares of CONMED from $106.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Piper Sandler increased their target price on shares of CONMED from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, TheStreet upgraded shares of CONMED from a “d+” rating to a “c-” rating in a research report on Friday, December 30th.

Hedge Funds Weigh In On CONMED

A number of large investors have recently modified their holdings of CNMD. Jennison Associates LLC boosted its position in shares of CONMED by 1.0% in the third quarter. Jennison Associates LLC now owns 505,806 shares of the company’s stock valued at $40,550,000 after acquiring an additional 4,953 shares during the period. Park Avenue Securities LLC boosted its position in shares of CONMED by 8.1% in the third quarter. Park Avenue Securities LLC now owns 2,950 shares of the company’s stock valued at $237,000 after acquiring an additional 222 shares during the period. Harbor Investment Advisory LLC boosted its position in shares of CONMED by 24.6% in the third quarter. Harbor Investment Advisory LLC now owns 729 shares of the company’s stock valued at $58,000 after acquiring an additional 144 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of CONMED by 15.8% in the third quarter. Great West Life Assurance Co. Can now owns 33,573 shares of the company’s stock valued at $2,691,000 after acquiring an additional 4,574 shares during the period. Finally, Brinker Capital Investments LLC raised its stake in CONMED by 4.5% in the third quarter. Brinker Capital Investments LLC now owns 9,233 shares of the company’s stock valued at $740,000 after purchasing an additional 399 shares in the last quarter.

About CONMED

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CONMED Corp. operates as a medical technology company, which engages in the development, manufacturing, and sale of surgical devices and related equipment. It operates through the United States, Europe, Middle East, and Africa, and Asia Pacific geographical segments. Its products are used by surgeons and physicians in a variety of medical specialties, including orthopedic surgery, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.