CONMED Co. (NASDAQ:CNMD) EVP Peter K. Shagory sold 4,000 shares of CONMED stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $69.29, for a total transaction of $277,160.00. Following the completion of the transaction, the executive vice president now directly owns 5,155 shares in the company, valued at $357,189.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CNMD stock opened at $69.30 on Friday. The firm has a market cap of $1.95 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.47 and a beta of 0.68. CONMED Co. has a 12 month low of $56.90 and a 12 month high of $83.49. The company has a current ratio of 2.20, a quick ratio of 1.27 and a debt-to-equity ratio of 0.68.
CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Tuesday, January 22nd. The medical technology company reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $228.40 million. CONMED had a net margin of 4.75% and a return on equity of 9.70%. CONMED’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, analysts expect that CONMED Co. will post 2.44 earnings per share for the current year.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in CONMED by 5.9% in the 4th quarter. BlackRock Inc. now owns 4,271,666 shares of the medical technology company’s stock worth $274,240,000 after buying an additional 237,898 shares during the last quarter. Vanguard Group Inc. raised its position in CONMED by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,666,773 shares of the medical technology company’s stock worth $211,262,000 after buying an additional 153,396 shares during the last quarter. Vanguard Group Inc raised its position in CONMED by 6.1% in the 3rd quarter. Vanguard Group Inc now owns 2,666,773 shares of the medical technology company’s stock worth $211,262,000 after buying an additional 153,396 shares during the last quarter. Capital Research Global Investors raised its position in CONMED by 7.2% in the 3rd quarter. Capital Research Global Investors now owns 1,719,000 shares of the medical technology company’s stock worth $136,179,000 after buying an additional 115,394 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in CONMED by 1.4% in the 3rd quarter. Macquarie Group Ltd. now owns 790,740 shares of the medical technology company’s stock worth $62,643,000 after buying an additional 11,300 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $79.00 price target (down previously from $86.00) on shares of CONMED in a report on Wednesday, January 23rd. BidaskClub upgraded shares of CONMED from a “sell” rating to a “hold” rating in a report on Thursday, December 13th. Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Friday, January 25th. Finally, Barclays set a $78.00 price target on shares of CONMED and gave the company an “equal weight” rating in a report on Tuesday, October 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $79.25.
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CONMED Company Profile
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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