By Maddie Sorenson
CONMED Co. (NASDAQ:CNMD) saw unusually-strong trading volume on Tuesday after an insider bought additional shares in the company, AnalystRatings.NETreports. Approximately 186,641 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 157,795 shares.The stock last traded at $41.79 and had previously closed at $40.85.
Specifically, Director David M. Bronson acquired 1,500 shares of CONMED stock in a transaction that occurred on Friday, December 11th. The stock was purchased at an average price of $41.01 per share, for a total transaction of $61,515.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $61,515. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of brokerages have recently weighed in on CNMD. Needham & Company LLC reaffirmed a “buy” rating on shares of CONMED in a research note on Monday, November 16th. Leerink Swann reaffirmed a “buy” rating on shares of CONMED in a research note on Monday, November 16th. Deutsche Bank reiterated a “buy” rating on shares of CONMED in a report on Tuesday, November 17th. Zacks Investment Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a report on Thursday, November 19th. Finally, Piper Jaffray reiterated a “neutral” rating and issued a $51.00 target price on shares of CONMED in a report on Thursday, August 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.50.
