Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Conmed Corp. shares valued at $252,833 were sold by Peters Stanley W III on Dec 04 ’23. At $109.93 per share, Peters Stanley W III sold 2,300 shares. The insider’s holdings dropped to 63 shares worth approximately $4305.42 following the completion of this transaction.
Also, Peters Stanley W III sold 1,200 shares, netting a total of over 122,874 in proceeds. Following the sale of shares at $102.39 each, the insider now holds 63 shares.
Before that, Peters Stanley W III had sold 2,000 shares from its account. In a trade valued at $214,629, the President AS and AET traded Conmed Corp. shares for $107.31 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $4305.42.
As published in a research note from Needham on February 01, 2024, Conmed Corp. [CNMD] has been retained to a Buy and the price target has been revised to $129. Analysts at CL King started covering the stock with ‘”a Buy”‘ outlook in a report released in late May. As of March 27, 2023, KeyBanc Capital Markets has increased its “Sector weight” rating to a “an Overweight” for CNMD. Earlier on March 21, 2023, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for CNMD stock.
Analyzing CNMD Stock Performance
During the last five days, there has been a drop of approximately -2.39%. Over the course of the year, Conmed Corp. shares have dropped approximately -37.59%. Shares of the company reached a 52-week high of $113.68 on 01/12/24 and a 52-week low of $61.05 on 04/25/24. A 50-day SMA is recorded $77.28, while a 200-day SMA reached $97.75. Nevertheless, trading volume fell to 0.45 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Conmed Corp. (CNMD)
According to the 24-hour chart, there is a support level at 66.63, which, if violated, would cause prices to drop to 64.91. In the upper region, resistance lies at 69.62. The next price resistance is at 70.89. RSI (Relative Strength Index) is 39.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.79, which suggests the price will decrease in the coming days. Percent R is at 56.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
