CONMED Corporation (CNMD) Director Sells $150,000.00 in Stock

CONMED Corporation (NASDAQ:CNMD) Director Jo Ann Golden sold 3,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 19,782 shares in the company, valued at approximately $989,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CONMED Corporation (NASDAQ:CNMD) opened at 48.97 on Friday. CONMED Corporation has a 12 month low of $37.60 and a 12 month high of $52.82. The company’s 50-day moving average is $50.25 and its 200 day moving average is $47.46. The firm has a market cap of $1.37 billion, a P/E ratio of 87.60 and a beta of 0.67.

CONMED Corporation (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The company had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $194.50 million. During the same quarter last year, the business earned $0.47 earnings per share. CONMED Corporation’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that CONMED Corporation will post $1.87 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of CONMED Corporation during the fourth quarter worth approximately $9,236,000. Teachers Advisors LLC boosted its position in shares of CONMED Corporation by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 45,123 shares of the medical technology company’s stock worth $1,993,000 after buying an additional 548 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of CONMED Corporation by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the medical technology company’s stock worth $449,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of CONMED Corporation by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock worth $121,000 after buying an additional 50 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of CONMED Corporation by 206.8% in the first quarter. Nationwide Fund Advisors now owns 62,671 shares of the medical technology company’s stock worth $2,783,000 after buying an additional 42,244 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

CNMD has been the topic of a number of research reports. BidaskClub lowered shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Needham & Company LLC boosted their target price on shares of CONMED Corporation from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Ladenburg Thalmann Financial Services lowered shares of CONMED Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $48.00 in a research report on Thursday, April 27th. Finally, TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $49.33.

About CONMED Corporation

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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