Insider Selling: CONMED Co. (CNMD) CFO Sells 1,962 Shares of Stock

CONMED Co. (NASDAQ:CNMD) CFO Luke A. Pomilio sold 1,962 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.25, for a total transaction of $118,210.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Luke A. Pomilio also recently made the following trade(s):

  • On Thursday, February 1st, Luke A. Pomilio sold 18,023 shares of CONMED stock. The shares were sold at an average price of $63.38, for a total transaction of $1,142,297.74.

CONMED Co. (NASDAQ CNMD) traded down $0.40 during trading on Tuesday, hitting $59.62. 76,409 shares of the company’s stock were exchanged, compared to its average volume of 197,470. CONMED Co. has a 12-month low of $39.74 and a 12-month high of $64.99. The company has a market capitalization of $1,678.55, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.56 and a quick ratio of 1.49.

CONMED (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. CONMED had a net margin of 6.97% and a return on equity of 9.15%. The firm had revenue of $222.60 million for the quarter, compared to analyst estimates of $212.17 million. During the same period last year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. sell-side analysts forecast that CONMED Co. will post 2.14 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNMD. Victory Capital Management Inc. lifted its position in shares of CONMED by 5.4% during the third quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock valued at $114,415,000 after purchasing an additional 111,096 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of CONMED by 13.9% during the third quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after purchasing an additional 89,078 shares in the last quarter. BlackRock Inc. lifted its position in shares of CONMED by 2.7% during the fourth quarter. BlackRock Inc. now owns 3,281,817 shares of the medical technology company’s stock valued at $167,275,000 after purchasing an additional 85,022 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of CONMED during the fourth quarter valued at about $3,169,000. Finally, Northern Trust Corp lifted its position in shares of CONMED by 10.0% during the second quarter. Northern Trust Corp now owns 640,851 shares of the medical technology company’s stock valued at $32,645,000 after purchasing an additional 58,055 shares in the last quarter. 98.49% of the stock is currently owned by institutional investors.

CNMD has been the topic of a number of recent research reports. Zacks Investment Research raised shares of CONMED from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $46.00 price objective on shares of CONMED in a research note on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $58.00 price objective on shares of CONMED in a research note on Friday, November 17th. Finally, BidaskClub lowered shares of CONMED from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $59.00.

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CONMED 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.

Insider Buying and Selling by Quarter for CONMED (NASDAQ:CNMD)

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