CONMED Co. (NASDAQ:CNMD) EVP Peter K. Shagory sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $95.31, for a total value of $190,620.00. Following the transaction, the executive vice president now owns 3,649 shares of the company’s stock, valued at approximately $347,786.19. The transaction was disclosed in a document filed with the SEC, which is available through this link.

NASDAQ CNMD traded up $0.43 during trading on Tuesday, hitting $95.79. 4,819 shares of the stock traded hands, compared to its average volume of 233,354. The firm has a market capitalization of $2.68 billion, a P/E ratio of 43.95, a P/E/G ratio of 2.50 and a beta of 0.59. CONMED Co. has a 12-month low of $56.90 and a 12-month high of $96.99. The company has a 50-day moving average of $88.00. The company has a quick ratio of 1.44, a current ratio of 2.55 and a debt-to-equity ratio of 1.14.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Wednesday, July 31st. The medical technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $238.26 million during the quarter, compared to analyst estimates of $233.06 million. CONMED had a return on equity of 9.95% and a net margin of 3.13%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. Equities analysts forecast that CONMED Co. will post 2.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, September 12th. CONMED’s payout ratio is 36.70%.

Several equities analysts have weighed in on the company. BidaskClub upgraded CONMED from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Zacks Investment Research upgraded CONMED from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $94.00 price target (up previously from $87.00) on shares of CONMED in a report on Tuesday, April 16th. Barclays raised their price target on CONMED from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on CONMED from $97.00 to $99.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $95.40.

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of CONMED by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,023 shares of the medical technology company’s stock valued at $834,000 after purchasing an additional 181 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of CONMED by 10.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,925 shares of the medical technology company’s stock worth $160,000 after acquiring an additional 183 shares during the last quarter. Rothschild & Co. Asset Management US Inc. lifted its stake in shares of CONMED by 0.4% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 54,767 shares of the medical technology company’s stock worth $4,556,000 after acquiring an additional 206 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of CONMED by 5.1% during the 1st quarter. Meeder Asset Management Inc. now owns 4,722 shares of the medical technology company’s stock worth $392,000 after acquiring an additional 231 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in CONMED by 3.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 7,276 shares of the medical technology company’s stock valued at $605,000 after purchasing an additional 270 shares in the last quarter. 96.75% of the stock is owned by institutional investors and hedge funds.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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