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

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

CONMED Price Performance

Shares of NYSE CNMD opened at $64.31 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The company’s fifty day moving average is $69.61 and its two-hundred day moving average is $69.98. CONMED Co. has a one year low of $61.05 and a one year high of $86.96. The firm has a market capitalization of $1.99 billion, a P/E ratio of 15.17, a PEG ratio of 1.05 and a beta of 1.46.

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

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, December 20th. CONMED’s payout ratio is presently 18.87%.

Institutional Investors Weigh In On CONMED

Large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in shares of CONMED by 31.5% in the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock worth $5,141,000 after purchasing an additional 17,633 shares during the period. Avity Investment Management Inc. purchased a new stake in shares of CONMED during the fourth quarter worth $278,000. Intech Investment Management LLC grew its position in shares of CONMED by 177.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after purchasing an additional 10,187 shares in the last quarter. Millrace Asset Group Inc. purchased a new stake in shares of CONMED during the 3rd quarter valued at $1,665,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CONMED by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company’s stock worth $4,823,000 after purchasing an additional 1,095 shares during the period.

Analyst Ratings Changes

Several equities analysts have weighed in on CNMD shares. Stifel Nicolaus lifted their target price on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reduced their price objective 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 reduced their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Finally, StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.20.

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.