Dana Investment Advisors Inc. Lowers Stock Holdings in CONMED Co. (NYSE:CNMD)

Dana Investment Advisors Inc. decreased its position in shares of CONMED Co. (NYSE:CNMD) by 12.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,657 shares of the company’s stock after selling 648 shares during the quarter. Dana Investment Advisors Inc.’s holdings in CONMED were worth $640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNMD. Loomis Sayles & Co. L P lifted its stake in shares of CONMED by 118.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 645,739 shares of the company’s stock valued at $84,327,000 after buying an additional 350,239 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of CONMED by 77.5% during the 1st quarter. Ameriprise Financial Inc. now owns 755,437 shares of the company’s stock valued at $98,654,000 after buying an additional 329,938 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of CONMED by 142.1% during the 2nd quarter. Victory Capital Management Inc. now owns 348,826 shares of the company’s stock valued at $47,939,000 after buying an additional 204,751 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of CONMED by 3.9% during the 1st quarter. Earnest Partners LLC now owns 1,636,672 shares of the company’s stock valued at $213,733,000 after buying an additional 61,336 shares in the last quarter. Finally, Crawford Investment Counsel Inc. lifted its stake in shares of CONMED by 119.6% during the 1st quarter. Crawford Investment Counsel Inc. now owns 106,830 shares of the company’s stock valued at $13,951,000 after buying an additional 58,185 shares in the last quarter.

A number of research analysts recently weighed in on CNMD shares. Barclays started coverage on shares of CONMED in a research note on Monday, May 24th. They set an “overweight” rating and a $175.00 target price on the stock. UBS Group assumed coverage on shares of CONMED in a research note on Thursday, July 15th. They set a “buy” rating and a $160.00 target price on the stock.

In related news, CFO Todd W. Garner sold 1,350 shares of the company’s stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $122.76, for a total transaction of $165,726.00. Following the transaction, the chief financial officer now directly owns 1,322 shares in the company, valued at approximately $162,288.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Jed Kennedy sold 4,240 shares of the company’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $134.75, for a total transaction of $571,340.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,028 shares of company stock worth $1,469,945. Insiders own 1.10% of the company’s stock.

Shares of CNMD stock opened at $125.03 on Wednesday. The stock has a market cap of $3.65 billion, a P/E ratio of 71.04, a PEG ratio of 3.88 and a beta of 1.58. CONMED Co. has a 52 week low of $69.60 and a 52 week high of $146.95. The company has a quick ratio of 1.17, a current ratio of 2.23 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $130.51 and its two-hundred day simple moving average is $132.67.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, July 28th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.62 by $0.09. The business had revenue of $255.16 million for the quarter, compared to analysts’ expectations of $247.87 million. CONMED had a net margin of 5.53% and a return on equity of 12.89%. On average, analysts anticipate that CONMED Co. will post 3.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 5th. Shareholders of record on Wednesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, September 14th. CONMED’s payout ratio is currently 36.70%.

CONMED Company Profile

CONMED Corp. operates as a medical technology company, which engages in the development, manufacture and sale of surgical devices and related equipment. It operates through the following geographical segments: United States; Americas excluding the United States; Europe, Middle East, and Africa; and Asia Pacific.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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