Luke A. Pomilio Sells 10,020 Shares of CONMED Corporation (CNMD) Stock
CONMED Corporation (NASDAQ:CNMD) EVP Luke A. Pomilio sold 10,020 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.57, for a total transaction of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
CONMED Corporation (NASDAQ:CNMD) opened at $50.96 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84. CONMED Corporation has a 12 month low of $39.13 and a 12 month high of $54.47. The firm has a market capitalization of $1,450.89, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 3.27 and a beta of 0.66.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. CONMED Corporation had a return on equity of 8.40% and a net margin of 1.99%. The business had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. equities research analysts predict that CONMED Corporation will post 1.87 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its holdings in shares of CONMED Corporation by 3.3% in the second quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after purchasing an additional 64 shares in the last quarter. SG Americas Securities LLC acquired a new position in CONMED Corporation during the second quarter worth $111,000. Quantbot Technologies LP acquired a new position in CONMED Corporation during the third quarter worth $133,000. Karp Capital Management Corp acquired a new stake in shares of CONMED Corporation in the first quarter valued at about $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in CONMED Corporation during the first quarter worth about $203,000. 98.75% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on CNMD. Zacks Investment Research cut shares of CONMED Corporation from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub lowered shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Piper Jaffray Companies restated a “hold” rating and issued a $46.00 price objective on shares of CONMED Corporation in a report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of CONMED Corporation in a research note on Friday, November 3rd. Finally, TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.33.
CONMED Corporation 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. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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