CONMED Corporation’s filing revealed that its Executive Vice President & CFO Garner Todd W unloaded Company’s shares for reported $0.15 million on Aug 16. In the deal valued at $112.00 per share,1,355 shares were sold. As a result of this transaction, Garner Todd W now holds 0 shares worth roughly $ 0.0.
Then, Hartman Curt R sold 1,000 shares, generating $136,000 in total proceeds. Upon selling the shares at $136.00, the President, CEO and Chair now owns 4,299 shares.
Before that, Peters Stanley W III sold 5,000 shares. CONMED Corporation shares valued at $655,676 were divested by the VP GM Advanced Surgery at a price of $131.14 per share. As a result of the transaction, Peters Stanley W III now holds 63 shares, worth roughly $6960.240000000001.
CL King initiated its CONMED Corporation [CNMD] rating to a Buy in a research note published on Friday, May 22, 2023; the price target was $140. PT values the company’s stock at a premium of 21.09 to its Friday closing price.
Price Performance Review of CNMD
On Friday, CONMED Corporation [NYSE:CNMD] saw its stock fall -0.88% to $110.48. On the same session, the stock had its day’s lowest price of $110.30, but rose to a high of $113.2799. Over the last five days, the stock has gained 2.33%. CONMED Corporation shares have risen nearly 24.64% since the year began. Nevertheless, the stocks have risen 24.74% over the past one year. While a 52-week high of $138.47 was reached on 06/14/23, a 52-week low of $71.09 was recorded on 03/13/23. SMA at 50 days reached $120.92, while 200 days put it at $107.89. A total of 0.21 million shares were traded, compared to the trading of 0.21 million shares in the previous session.
Levels Of Support And Resistance For CNMD Stock
The 24-hour chart illustrates a support level at 109.43, which if violated will result in even more drops to 108.37. On the upside, there is a resistance level at 112.41. A further resistance level may holdings at 114.33. The Relative Strength Index (RSI) on the 14-day chart is 43.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.91, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 39.60%. Stochastics %K at 71.41% indicates the stock is a holding.
How much short interest is there in CONMED Corporation?
A steep rise in short interest was recorded in CONMED Corporation stocks on Aug 14, 2023, growing by 0.21 million shares to a total of 3.97 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.76 million shares. There was a rise of 5.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 17.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.54.
CONMED Corporation [CNMD] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 4,568,642 shares, or roughly 14.86% of the outstanding CNMD shares. In other words, the investor’s shares have risen by 31,749 from its previous 13-F filing of 4536893.0. Additionally, The Vanguard Group, Inc. decreased -0.58% of its stake after which the total value it holdings stand at $405,585,167, while Capital Research & Management Co added 2.93% of its stake to hold $299.24 million in the firm. Over the last quarter, EARNEST Partners LLC sold -494,873 shares of CONMED Corporation, while SSgA Funds Management, Inc. sold 6,109 shares. At present, Champlain Investment Partners LLC is holding 944,370 shares valued at $114.32 million. Managed Account Advisors LLC owned 876,018 shares of the company at the time of its most recent 13F filing, worth $106.04 million.
According to FactSet, CONMED Corporation’s share price will average $136.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 25.61 percent from its previous closing price of $111.46. Analysts expect CONMED Corporation stock to reach the higher price of $145.00, while the lowest price estimate is $123.00. However, 9 analysts have rated CNMD stock as an Overweight in their predictions for 2023.