Sls Management adds CONMED Corporation (CNMD) to its portfolio

CONMED Corporation (CNMD) : Sls Management added new position in CONMED Corporation during the most recent quarter end. The investment management firm now holds 95,101 shares of CONMED Corporation which is valued at $3.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.CONMED Corporation makes up approximately 6.48% of Sls Management’s portfolio.

Other Hedge Funds, Including , Huber Capital Management boosted its stake in CNMD in the latest quarter, The investment management firm added 173,907 additional shares and now holds a total of 340,833 shares of CONMED Corporation which is valued at $13.8 Million. CONMED Corporation makes up approx 0.55% of Huber Capital Management’s portfolio.Nationwide Fund Advisors reduced its stake in CNMD by selling 5,348 shares or 6.38% in the most recent quarter. The Hedge Fund company now holds 78,510 shares of CNMD which is valued at $3.4 Million. CONMED Corporation makes up approx 0.01% of Nationwide Fund Advisors’s portfolio.

CONMED Corporation opened for trading at $39.56 and hit $39.78 on the upside on Wednesday, eventually ending the session at $39.74, with a gain of 0.46% or 0.18 points. The heightened volatility saw the trading volume jump to 1,04,660 shares. Company has a market cap of $1,103 M.

On the company’s financial health, CONMED Corporation reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.34. The company had revenue of $181.20 million for the quarter, compared to analysts expectations of $179.91 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on CONMED Corporation. Company shares were Reiterated by Needham on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 49 from a previous price target of $48 .

CONMED Corporation is a medical technology company. The Company 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 variety of specialties including orthopedics general surgery gynecology neurosurgery and gastroenterology. Its product lines consist of orthopedic surgery general surgery and surgical visualization. Orthopedic surgery consists of sports medicine instrumentation and small bone large bone and specialty powered surgical instruments. General surgery consists of a line of endo-mechanical instrumentation for minimally invasive laparoscopic and gastrointestinal procedures a line of cardiac monitoring products as well as electrosurgical generators and related instruments. Surgical visualization consists of 2D and 3D video systems for use in minimally invasive orthopedic and general surgery.

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