Conmed Corp. (NASDAQ:CNMD) Director Charles Farkas purchased 336 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were purchased at an average cost of $40.04 per share, for a total transaction of $13,453.44. Following the purchase, the director now directly owns 8,020 shares in the company, valued at $321,120.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Conmed Corp. (NASDAQ:CNMD) opened at 40.73 on Thursday. The company’s 50 day moving average price is $40.17 and its 200 day moving average price is $42.23. The firm has a market capitalization of $1.13 billion, a P/E ratio of 65.80 and a beta of 0.90. Conmed Corp. has a 12 month low of $35.51 and a 12 month high of $51.90.
Conmed Corp. (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, July 27th. The medical technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $193.40 million for the quarter, compared to analyst estimates of $191.48 million. Conmed Corp. had a net margin of 2.36% and a return on equity of 8.11%. Conmed Corp.’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Analysts anticipate that Conmed Corp. will post $1.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.80 annualized dividend and a yield of 1.96%. Conmed Corp.’s dividend payout ratio (DPR) is 129.03%.
Large investors have recently added to or reduced their stakes in the company. Bogle Investment Management L P DE purchased a new stake in shares of Conmed Corp. during the first quarter valued at approximately $1,304,000. Wellington Management Group LLP purchased a new stake in shares of Conmed Corp. during the first quarter valued at approximately $11,522,000. Goldman Sachs Group Inc. raised its stake in shares of Conmed Corp. by 103.8% in the first quarter. Goldman Sachs Group Inc. now owns 990,609 shares of the medical technology company’s stock valued at $41,546,000 after buying an additional 504,423 shares during the last quarter. AXA purchased a new stake in shares of Conmed Corp. during the first quarter valued at approximately $1,028,000. Finally, Menta Capital LLC purchased a new stake in shares of Conmed Corp. during the first quarter valued at approximately $279,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.
Several brokerages have recently commented on CNMD. Zacks Investment Research raised Conmed Corp. from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, June 14th. Leerink Swann lowered Conmed Corp. from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $56.00 to $47.00 in a research note on Thursday, July 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Conmed Corp. has a consensus rating of “Buy” and a consensus target price of $49.00.
Conmed Corp. Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. Its products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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