The price of CONMED Corporation (NYSE:CNMD) shares last traded on Wall Street rose 3.09% to $93.12.
CNMD stock price is now -3.48% away from the 50-day moving average and 0.88% away from the 200-day moving average. The market capitalization of the company currently stands at $3.02B.
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With the price target of $85, Jefferies recently initiated with Hold rating for CONMED Corporation (NYSE: CNMD)., while ‘Needham’ rates the stock as ‘Buy’.
In other news, Garner Todd W, Executive Vice President & CFO sold 30,000 shares of the company’s stock on Mar 13. The stock was sold for $2,727,939 at an average price of $90.93. Upon completion of the transaction, the Executive Vice President & CFO now directly owns 1,115 shares in the company, valued at $0.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, Special Counsel & Corp Secy Jonas Daniel S sold 10,400 shares of the business’s stock. A total of $1,000,104 was realized by selling the stock at an average price of $96.16. This leaves the insider owning 14,048 shares of the company worth $1.31 million. Insiders disposed of 34,256 shares of company stock worth roughly $3.19 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CNMD stock. A new stake in CONMED Corporation shares was purchased by LIGHTHOUSE INVESTMENT PARTNERS, LLC during the first quarter worth $10,076,000. JEFFERIES FINANCIAL GROUP INC. invested $5,855,000 in shares of CNMD during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in CONMED Corporation valued at approximately $5,445,000. HEALTHCOR MANAGEMENT, L.P. acquired a new stake in CNMD for approximately $2,561,000. ERGOTELES LLC purchased a new stake in CNMD valued at around $1,969,000 in the second quarter.
A candlestick chart of CONMED Corporation (NYSE: CNMD) showed a price of $92.99 on Tuesday morning. During the past 12 months, CONMED Corporation has had a low of $71.09 and a high of $155.51. As of last week, the company has a debt-to-equity ratio of 1.45, a current ratio of 2.80, and a quick ratio of 1.30. The fifty day moving average price for CNMD is $96.56 and a two-hundred day moving average price translates $92.21 for the stock.
The latest earnings results from CONMED Corporation (NYSE: CNMD) was released for Dec, 2022. According to the Medical Devices Company, earnings per share came in at $0.42, missing analysts’ expectations of $0.9 by -0.48. This compares to $0.75 EPS in the same period last year. The net profit margin was -10.90% and return on equity was -15.40% for CNMD. The company reported revenue of $250.87 million for the quarter, compared to $273.97 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.43 percent. For the current quarter, analysts expect CNMD to generate $266.74M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/05/2023. Investors who held shares on 03/15/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 0.86% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend.
CONMED Corporation(CNMD) Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries. The company markets orthopedic surgery products under the Hall, CONMED Linvatec, Concept, and Shutt brands. It also offers general surgery products, such as clinical insufflation, smoke evacuation, electrosurgical, and endomechanical products; and endoscopic technologies, including diagnostic and therapeutic products for use in gastroenterology procedures, and products for the treatment of diseases of the biliary structures, as well as cardiac monitoring products comprising ECG and EEG electrodes, and cardiac defibrillation pads. The company markets its products directly to hospitals, surgery centers, and other healthcare institutions, as well as through medical specialty distributors. CONMED Corporation was incorporated in 1970 and is headquartered in Largo, Florida.
