Conmed Corp. (CNMD) – Don’t Be So Quick to Call it Dead

Conmed Corp. (NYSE: CNMD) is -22.87% lower on its value in year-to-date trading and has touched a low of $80.01 and a high of $138.47 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CNMD stock was last observed hovering at around $83.41 in the last trading session, with the day’s gains setting it 1.06%.

Currently trading at $84.47, the stock is -12.73% and -19.33% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.89 million and changing 1.27% at the moment leaves the stock -24.53% off its SMA200. CNMD registered -20.04% loss for a year compared to 6-month loss of -25.14%. The firm has a 50-day simple moving average (SMA 50) of $2.88 and a 200-day simple moving average (SMA200) of $29.68.

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The stock witnessed a -24.75% gain in the last 1 month and extending the period to 3 months gives it a -15.98%, and is 0.85% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.76% over the week and 3.87% over the month.

Conmed Corp. (CNMD) has around 4100 employees, a market worth around $2.60B and $1.24B in sales. Current P/E ratio is 41.41 and Fwd P/E is 15.04. Profit margin for the company is 5.19%. Distance from 52-week low is 5.57% and -39.00% from its 52-week high. The company has generated returns on investments over the last 12 months (3.71%).

Conmed Corp. quarterly earnings per share for the current quarter are estimated at $0.76 with sales reaching $306.6M over the same period.The EPS is expected to grow by 25.62% this year, but quarterly earnings will post 8.40% year-over-year.

394 institutions hold shares in Conmed Corp. (CNMD), with institutional investors hold 119.67% of the company’s shares. The shares outstanding are 30.75M, and float is at 30.52M with Short Float at 14.12%. Institutions hold 119.01% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 4.97 million shares valued at $674.85 million. The investor’s holdings represent 16.16% of the CNMD Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 3.44 million shares valued at $467.56 million to account for 11.19% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 2.47 million shares representing 8.04% and valued at over $335.93 million, while Earnest Partners LLC holds 7.23% of the shares totaling 2.22 million with a market value of $301.81 million.

Conmed Corp. (CNMD) Insider Activity

A total of 5 insider transactions have happened at Conmed Corp. (CNMD) in the last six months, with sales accounting for 3 and purchases happening 2 times. The most recent transaction is an insider sale by Peters Stanley W III, the company’s President AS and AET. SEC filings show that Peters Stanley W III sold 2,300 shares of the company’s common stock on Dec 04 at a price of $109.93 per share for a total of $0.25 million. Following the sale, the insider now owns 63.0 shares.

Conmed Corp. disclosed in a document filed with the SEC on Nov 07 that Peters Stanley W III (President AS and AET) sold a total of 1,200 shares of the company’s common stock. The trade occurred on Nov 07 and was made at $102.39 per share for $0.12 million. Following the transaction, the insider now directly holds 63.0 shares of the CNMD stock.

Still, SEC filings show that on Sep 13, Peters Stanley W III (President AS and AET) disposed off 2,000 shares at an average price of $107.31 for $0.21 million. The insider now directly holds 63 shares of Conmed Corp. (CNMD).

Conmed Corp. (CNMD): Who are the competitors?

One of the company’s main competitors (and peers) include Integra LifeSciences Holdings Corp. (IART) that is trading -28.14% down over the past 12 months.Johnson & Johnson (JNJ) lies in the list of competitors of the Conmed Corp. and is -3.55% lower over the same period from CNMDSmith & Nephew PLC ADR (SNN) is 0.25% up on the 1-year trading charts.