Dana Investment Advisors Inc. Has $640,000 Position in CONMED Co. (NYSE:CNMD)

Dana Investment Advisors Inc. cut its stake in shares of CONMED Co. (NYSE:CNMD) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bahl & Gaynor Inc. lifted its stake in shares of CONMED by 2.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 51,609 shares of the company’s stock valued at $6,740,000 after purchasing an additional 1,281 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of CONMED in the 2nd quarter valued at about $43,000. Castleark Management LLC lifted its stake in shares of CONMED by 51.5% in the 1st quarter. Castleark Management LLC now owns 83,402 shares of the company’s stock valued at $10,891,000 after purchasing an additional 28,350 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of CONMED by 8.3% in the 2nd quarter. Chartwell Investment Partners LLC now owns 13,735 shares of the company’s stock valued at $1,888,000 after purchasing an additional 1,053 shares during the period. Finally, Fisher Asset Management LLC increased its position in CONMED by 4.1% in the 2nd quarter. Fisher Asset Management LLC now owns 321,818 shares of the company’s stock valued at $44,227,000 after buying an additional 12,569 shares in the last quarter.

CNMD stock opened at $125.03 on Wednesday. CONMED Co. has a 12-month low of $69.60 and a 12-month 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 business has a 50 day moving average of $130.51 and a 200-day moving average of $132.67. The firm has a market cap of $3.65 billion, a PE ratio of 71.04, a P/E/G ratio of 3.88 and a beta of 1.58.

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

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

In other CONMED news, EVP John Jed Kennedy sold 5,438 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $134.77, for a total transaction of $732,879.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Todd W. Garner sold 1,350 shares of the stock in a transaction on Friday, August 13th. The stock was sold at an average price of $122.76, for a total value of $165,726.00. Following the sale, the chief financial officer now owns 1,322 shares in the company, valued at approximately $162,288.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,028 shares of company stock worth $1,469,945. 1.10% of the stock is owned by company insiders.

A number of brokerages recently commented on CNMD. UBS Group began coverage on CONMED in a research report on Thursday, July 15th. They issued a “buy” rating and a $160.00 target price for the company. Barclays began coverage on CONMED in a research report on Monday, May 24th. They issued an “overweight” rating and a $175.00 target price for the company.

CONMED 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.

Further Reading: Hold Rating

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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