Insider Selling: CONMED (NYSE:CNMD) Insider Sells $10,590.97 in Stock

CONMED Corporation (NYSE:CNMD - Get Free Report) insider Richard Glaze sold 257 shares of the company's stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $41.21, for a total transaction of $10,590.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

CONMED Stock Performance

• Med-tech stock Conmed dips ahead of big Q4 report...opportunity?

NYSE:CNMD traded up $0.38 during mid-day trading on Monday, hitting $43.16. The stock had a trading volume of 320,854 shares, compared to its average volume of 459,572. CONMED Corporation has a 52 week low of $40.16 and a 52 week high of $78.00. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.59 and a beta of 1.15. The company has a 50 day simple moving average of $45.97 and a 200-day simple moving average of $51.17.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. The company had revenue of $337.93 million for the quarter, compared to analyst estimates of $334.76 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. CONMED's revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 earnings per share. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. On average, research analysts expect that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNMD. Piper Sandler reduced their price target on CONMED from $68.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, November 6th. Wells Fargo & Company cut their price objective on shares of CONMED from $57.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of CONMED in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $54.00.

Get Our Latest Stock Analysis on CONMED

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors acquired a new stake in CONMED in the 3rd quarter valued at about $28,000. Picton Mahoney Asset Management acquired a new stake in CONMED during the first quarter valued at approximately $33,000. CWM LLC boosted its holdings in CONMED by 352.0% during the second quarter. CWM LLC now owns 791 shares of the company's stock worth $41,000 after buying an additional 616 shares in the last quarter. Quarry LP boosted its holdings in CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company's stock worth $41,000 after buying an additional 617 shares in the last quarter. Finally, Huntington National Bank grew its position in CONMED by 111.8% in the third quarter. Huntington National Bank now owns 883 shares of the company's stock worth $42,000 after buying an additional 466 shares during the last quarter.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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