Short Interest Alert: What’s Propelling Conmed Corporation (NASDAQ:CNMD) After Higher Shorts Reported?

November 30, 2016 - By Clifton Ray   ·   0 Comments

Short Interest Alert: What’s Propelling Conmed Corporation (NASDAQ:CNMD) After Higher Shorts Reported?

The stock of Conmed Corporation (NASDAQ:CNMD) registered an increase of 9.98% in short interest. CNMD’s total short interest was 1.39M shares in November as published by FINRA. Its up 9.98% from 1.27M shares, reported previously. With 168,400 shares average volume, it will take short sellers 8 days to cover their CNMD’s short positions. The short interest to Conmed Corporation’s float is 5.64%. The stock increased 0.09% or $0.04 during the last trading session, hitting $44.69. CONMED Corporation (NASDAQ:CNMD) has risen 0.65% since April 27, 2016 and is uptrending. It has underperformed by 4.57% the S&P500.

CONMED Corporation is a medical technology company. The company has a market cap of $1.23 billion. The Firm is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. It has a 79 P/E ratio. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

Insitutional Activity: The institutional sentiment decreased to 0.85 in 2016 Q2. Its down 0.29, from 1.14 in 2016Q1. The ratio turned negative, as 19 funds sold all CONMED Corporation shares owned while 44 reduced positions. 21 funds bought stakes while 51 increased positions. They now own 27.29 million shares or 1.46% more from 26.90 million shares in 2016Q1.
Texas Permanent School Fund, a Texas-based fund reported 19,733 shares. Vanguard Gru Inc last reported 0.01% of its portfolio in the stock. Louisiana State Employees Retirement Sys accumulated 11,400 shares or 0.03% of the stock. Metropolitan Life Ins New York holds 21,670 shares or 0.01% of its portfolio. Wells Fargo & Mn last reported 26,226 shares in the company. Aperio Group Ltd Limited Liability Company, a California-based fund reported 5,337 shares. Credit Suisse Ag holds 23,234 shares or 0% of its portfolio. Comml Bank Of New York Mellon Corp has 359,872 shares for 0.01% of their US portfolio. Ameriprise accumulated 0% or 126,053 shares. United Service Automobile Association, a Texas-based fund reported 61,140 shares. Price T Rowe Associates Inc Md has invested 0% of its portfolio in CONMED Corporation (NASDAQ:CNMD). Moreover, Cap Rech Global Invsts has 0.02% invested in CONMED Corporation (NASDAQ:CNMD) for 1.25M shares. Deutsche Bankshares Ag has 0% invested in the company for 64,159 shares. Great West Life Assurance Can holds 0% or 3,598 shares in its portfolio. Teachers Retirement Of The State Of Kentucky, a Kentucky-based fund reported 7,855 shares.

Insider Transactions: Since June 3, 2016, the stock had 2 insider purchases, and 2 selling transactions for $138,933 net activity. $13,453 worth of CONMED Corporation (NASDAQ:CNMD) was bought by Farkas Charles on Monday, October 3. 1,500 shares were sold by JONAS DANIEL, worth $62,663 on Tuesday, November 8. Shares for $182,881 were sold by POMILIO LUKE A.

CONMED Corporation (NASDAQ:CNMD) Ratings Coverage

Out of 4 analysts covering CONMED Corporation (NASDAQ:CNMD), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. CONMED Corporation has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Monday, October 5 by Leerink Swann. Needham maintained the stock with “Buy” rating in Thursday, April 28 report. Piper Jaffray maintained the stock with “Neutral” rating in Thursday, August 27 report. The stock of CONMED Corporation (NASDAQ:CNMD) has “Market Perform” rating given on Thursday, October 22 by Northland Capital. The company was upgraded on Monday, October 12 by Ladenburg Thalmann. Northland Capital downgraded the stock to “Market Perform” rating in Wednesday, July 22 report. Needham maintained the stock with “Buy” rating in Friday, November 18 report.

CNMD Company Profile

CONMED Corporation, incorporated on February 10, 1970, is a medical technology company. The Firm is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology. The Company’s product lines consist of orthopedic surgery, general surgery and surgical visualization. The Company’s products are distributed domestically directly to over 6,000 hospitals and other healthcare institutions, as well as through medical specialty distributors.

More notable recent CONMED Corporation (NASDAQ:CNMD) news were published by: Businesswire.com which released: “CONMED Corporation Announces Fourth Quarter and Fiscal Year 2015 Financial Results” on January 27, 2016, also Businesswire.com with their article: “CONMED Corporation Announces Second Quarter 2016 Financial Results” published on July 27, 2016, Businesswire.com published: “CONMED Corporation Announces First Quarter 2016 Financial Results” on April 27, 2016. More interesting news about CONMED Corporation (NASDAQ:CNMD) were released by: Businesswire.com and their article: “CONMED Corporation Adds Health Care Executive Martha Goldberg Aronson to its …” published on February 23, 2016 as well as Businesswire.com‘s news article titled: “CONMED Corporation to Announce Third Quarter 2016 Financial Results on October …” with publication date: October 10, 2016.

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By Clifton Ray


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