CONMED Corporation $CNMD Shares Bought by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. raised its stake in CONMED Corporation (NYSE:CNMD) by 40.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 87,933 shares of the company’s stock after purchasing an additional 25,325 shares during the quarter. Dana Investment Advisors Inc.’s holdings in CONMED were worth $3,570,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kelleher Financial Advisors acquired a new position in shares of CONMED in the third quarter worth $28,000. Quarry LP grew its position in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after purchasing an additional 617 shares during the period. Huntington National Bank grew its position in shares of CONMED by 111.8% in the third quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after purchasing an additional 466 shares during the period. State of Wyoming purchased a new stake in shares of CONMED in the third quarter valued at $52,000. Finally, CWM LLC grew its position in shares of CONMED by 114.7% in the fourth quarter. CWM LLC now owns 1,578 shares of the company’s stock valued at $64,000 after purchasing an additional 843 shares during the period.

CONMED Price Performance

Shares of NYSE:CNMD opened at $35.44 on Monday. The business has a fifty day simple moving average of $37.04 and a 200-day simple moving average of $40.42. CONMED Corporation has a 52 week low of $33.21 and a 52 week high of $60.80. The company has a quick ratio of 1.04, a current ratio of 2.29 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.07 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.59 and a beta of 0.94.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. CONMED had a return on equity of 13.84% and a net margin of 4.00%.The firm had revenue of $317.05 million during the quarter, compared to the consensus estimate of $310.64 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts forecast that CONMED Corporation will post 4.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. JPMorgan Chase & Co. lowered their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Piper Sandler downgraded CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $39.00 in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Finally, Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $46.20.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.