Conmed Corp. (CNMD) Director Purchases $13,453.44 in Stock
Conmed Corp. (NASDAQ:CNMD) Director Charles Farkas bought 336 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was acquired at an average cost of $40.04 per share, with a total value of $13,453.44. Following the transaction, the director now owns 8,020 shares of the company’s stock, valued at approximately $321,120.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Conmed Corp. (NASDAQ:CNMD) opened at 40.35 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of 65.19 and a beta of 0.90. The stock’s 50 day moving average is $40.19 and its 200-day moving average is $42.21. Conmed Corp. has a 1-year low of $35.51 and a 1-year high of $51.90.
Conmed Corp. (NASDAQ:CNMD) last posted its quarterly earnings results on Wednesday, July 27th. The medical technology company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The company earned $193.40 million during 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%. The firm’s revenue for the quarter 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 expect that Conmed Corp. will post $1.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Tuesday, September 13th. Conmed Corp.’s dividend payout ratio (DPR) is presently 129.03%.
A number of analysts have commented on CNMD shares. Zacks Investment Research cut shares of Conmed Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Leerink Swann cut shares of Conmed Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the company from $56.00 to $47.00 in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $49.00.
Large investors have recently added to or reduced their stakes in the stock. Bogle Investment Management L P DE acquired a new stake in Conmed Corp. during the first quarter valued at approximately $1,304,000. Wellington Management Group LLP acquired a new stake in Conmed Corp. during the first quarter valued at approximately $11,522,000. Goldman Sachs Group Inc. increased its stake in 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 period. AXA acquired a new stake in Conmed Corp. during the first quarter valued at approximately $1,028,000. Finally, Menta Capital LLC acquired a new stake in Conmed Corp. during the first quarter valued at approximately $279,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.
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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