Dana Investment Advisors Inc. Boosts Position in CONMED Corporation $CNMD

Dana Investment Advisors Inc. raised its position in CONMED Corporation (NYSE:CNMD) by 22.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 62,608 shares of the company’s stock after purchasing an additional 11,655 shares during the period. Dana Investment Advisors Inc. owned about 0.20% of CONMED worth $2,944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CNMD. CWM LLC boosted its position in shares of CONMED by 352.0% in the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after buying an additional 616 shares in the last quarter. State of Wyoming acquired a new position in CONMED during the third quarter worth about $52,000. GAMMA Investing LLC lifted its holdings in shares of CONMED by 14.8% in the third quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock valued at $83,000 after purchasing an additional 228 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CONMED in the third quarter valued at approximately $167,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of CONMED by 85.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,639 shares of the company’s stock worth $171,000 after purchasing an additional 1,673 shares in the last quarter.

Wall Street Analyst Weigh In

CNMD has been the topic of a number of recent research reports. Piper Sandler reduced their target price on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Bank of America reduced their price objective on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Wells Fargo & Company boosted their target price on shares of CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.83.

CONMED Stock Performance

CONMED stock opened at $46.09 on Thursday. The stock has a fifty day moving average price of $41.59 and a 200 day moving average price of $45.30. CONMED Corporation has a 52 week low of $35.37 and a 52 week high of $64.87. The firm has a market capitalization of $1.42 billion, a P/E ratio of 30.52, a PEG ratio of 2.02 and a beta of 0.97. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. The company had revenue of $373.20 million during the quarter, compared to analysts’ expectations of $366.88 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. Equities research analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current year.

About CONMED

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.