CONMED (NYSE:CNMD) Director Charles Farkas Sells 2,000 Shares

Key Points

• CONMED Director Charles Farkas sold 2,000 shares at an average price of $53.52, reducing his ownership by 11.86% to a total of 14,859 shares valued at approximately $795,253.68.
• The company's stock price fell 1.7% to $51.79 ahead of upcoming quarterly earnings with a current market cap of $1.60 billion.
• CONMED recently declared a quarterly dividend of $0.20 per share, translating to an annualized dividend yield of 1.5%, with a payout ratio of 22.66%.

CONMED Corporation (NYSE:CNMD - Get Free Report) Director Charles Farkas sold 2,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $53.52, for a total value of $107,040.00. Following the transaction, the director owned 14,859 shares of the company's stock, valued at approximately $795,253.68. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

CONMED Stock Down 1.7%

Shares of NYSE:CNMD traded down $0.91 during mid-day trading on Monday, reaching $51.79. 95,512 shares of the stock were exchanged, compared to its average volume of 466,564. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. The company has a market cap of $1.60 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.80 and a beta of 1.18. CONMED Corporation has a one year low of $46.00 and a one year high of $78.00. The stock's 50 day simple moving average is $52.42 and its 200-day simple moving average is $54.69.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The firm had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. During the same period in the previous year, the business earned $0.98 EPS. The company's revenue was up 3.1% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, equities research analysts predict that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. CONMED's payout ratio is 22.66%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Needham & Company LLC lowered CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target on the stock. in a research report on Thursday, June 12th. Piper Sandler lowered their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.80.

Institutional Trading of CONMED

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new position in CONMED in the 1st quarter valued at $33,000. CWM LLC grew its holdings in CONMED by 352.0% in the 2nd quarter. CWM LLC now owns 791 shares of the company's stock valued at $41,000 after buying an additional 616 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in CONMED in the 2nd quarter valued at $48,000. Hilltop National Bank acquired a new position in CONMED in the 2nd quarter valued at $55,000. Finally, GAMMA Investing LLC grew its holdings in CONMED by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock valued at $80,000 after buying an additional 591 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.