CONMED Corporation (CNMD) EVP Sells $1,488,704.10 in Stock

CONMED Corporation (NASDAQ:CNMD) EVP Luke A. Pomilio sold 29,363 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the sale, the executive vice president now directly owns 45,486 shares of the company’s stock, valued at approximately $2,306,140.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CONMED Corporation (NASDAQ CNMD) opened at $49.79 on Friday. The firm has a market cap of $1,390.83, a price-to-earnings ratio of 28.45, a P/E/G ratio of 3.14 and a beta of 0.66. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84. CONMED Corporation has a 1-year low of $39.74 and a 1-year high of $54.47.

CONMED Corporation (NASDAQ:CNMD) last issued its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. CONMED Corporation had a net margin of 1.99% and a return on equity of 8.40%. CONMED Corporation’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. analysts expect that CONMED Corporation will post 1.87 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in CONMED Corporation by 46,036.5% in the 1st quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock worth $140,043,000 after buying an additional 3,146,592 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CONMED Corporation by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,294,366 shares of the medical technology company’s stock valued at $116,875,000 after purchasing an additional 25,484 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of CONMED Corporation by 5.4% during the 3rd 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 during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of CONMED Corporation by 7.6% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,067,844 shares of the medical technology company’s stock valued at $54,396,000 after purchasing an additional 75,055 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of CONMED Corporation by 13.9% during the 3rd 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 during the last quarter. 98.75% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on CNMD. Zacks Investment Research downgraded shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. BidaskClub downgraded shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $46.00 target price on shares of CONMED Corporation in a report on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of CONMED Corporation in a report on Friday, November 3rd. Finally, TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.33.

CONMED Corporation 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 Corporation (NASDAQ:CNMD)

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