Conmed Corp. (CNMD) Director Charles Farkas Acquires 336 Shares of Stock
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 bought at an average cost of $40.04 per share, for a total transaction of $13,453.44. Following the completion of the purchase, the director now directly owns 8,020 shares of the company’s stock, valued at $321,120.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Conmed Corp. (NASDAQ:CNMD) opened at 39.97 on Wednesday. Conmed Corp. has a 52 week low of $35.51 and a 52 week high of $51.90. The company has a market capitalization of $1.11 billion, a PE ratio of 64.57 and a beta of 0.90. The firm has a 50-day moving average of $40.14 and a 200-day moving average of $42.24.
Conmed Corp. (NASDAQ:CNMD) last posted its quarterly earnings data on Wednesday, July 27th. The medical technology company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. The firm earned $193.40 million during the quarter, compared to the consensus estimate of $191.48 million. Conmed Corp. had a net margin of 2.36% and a return on equity of 8.11%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Equities analysts expect that Conmed Corp. will post $1.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 13th. Conmed Corp.’s dividend payout ratio is currently 129.03%.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Conmed Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Leerink Swann cut shares of Conmed Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the company 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. The company presently has a consensus rating of “Buy” and a consensus target price of $49.00.
A number of hedge funds have recently bought and sold shares of CNMD. PineBridge Investments L.P. increased its stake in Conmed Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,273 shares of the medical technology company’s stock worth $157,000 after buying an additional 124 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Conmed Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,490 shares of the medical technology company’s stock valued at $167,000 after buying an additional 429 shares during the last quarter. Suntrust Banks Inc. purchased a new position in shares of Conmed Corp. during the second quarter valued at approximately $205,000. CNA Financial Corp purchased a new position in shares of Conmed Corp. during the second quarter valued at approximately $229,000. Finally, Mason Street Advisors LLC purchased a new position in shares of Conmed Corp. during the second quarter valued at approximately $241,000. 98.80% of the stock is owned by hedge funds and other institutional investors.
About Conmed Corp.
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.
Receive News & Stock Ratings for Conmed Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conmed Corp. and related stocks with our FREE daily email newsletter.