Richard Glaze Sells 257 Shares of CONMED Co. (NYSE:CNMD) Stock

CONMED Co. (NYSE:CNMD) insider Richard Glaze sold 257 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $65.35, for a total transaction of $16,794.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CONMED Stock Performance

Shares of CNMD opened at $63.05 on Friday. The firm has a 50-day moving average of $69.43 and a 200-day moving average of $69.93. CONMED Co. has a one year low of $61.05 and a one year high of $86.96. The company has a market cap of $1.95 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. As a group, equities analysts forecast that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

Wall Street Analyst Weigh In

CNMD has been the topic of a number of research analyst reports. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC lowered their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus lifted their price target on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNMD. Blue Trust Inc. boosted its holdings in shares of CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after buying an additional 145 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of CONMED by 6.8% during the 4th quarter. Ameritas Investment Partners Inc. now owns 3,228 shares of the company’s stock worth $221,000 after buying an additional 205 shares during the period. HighTower Advisors LLC boosted its holdings in shares of CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after buying an additional 275 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of CONMED by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after buying an additional 280 shares during the period. Finally, Epiq Partners LLC boosted its holdings in shares of CONMED by 2.2% during the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after buying an additional 302 shares during the period.

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.