' Camber Capital has raised its holding in CONMED Corporation (NASDAQ:CNMD
). The fund revealed holding almost 1.4 million shares of the company, up from 1.0 million disclosed in its latest 13F. Currently, Camber's stake in Conmed amasses
5.02% of the company's stock. At the current stock price of the company, the value of the activist stake, amounts to nearly $56.6 million.
The stock of Conmed has gained over 45% since the beginning of the year, sporting a P/E of 31.6. For the previous quarter, the company posted sales worth $179.3 million, and diluted EPS of $0.2, down from $0.32 a year ago. At the end of October, the company increased its quarterly dividend by 33% to $0.20 per share. The dividend will be payable January 6.
Among the hedge funds we track, Camber holds the largest position, followed by Cliff Asness
' Aqr Capital Management, which owned some 301,700 shares at the end of September, down by 30% over the quarter. The value of Aqr's stake amounts to $10.3 million. Conan Laughlin
's North Tide Capital, disclosed in its latest 13F, holding around 239,600 shares, with a reported value of $8.1 million.
Camber Capital is a hedge fund with a strong focus on healthcare stocks. In the past couple of months, the fund reported initiating a 5.4% stake in Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA
), which contains 10 million shares. Also, Camber disclosed in October holding a big stake in BIOLASE Inc (NASDAQ:BIOL
), which contains 2.7 million shares, and is equal to 7.3% of common stock.
In the latest 13F, Stephen DuBois' fund revealed the largest position in its equity portfolio involving Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA
), in which the fund owns 2.0 million shares, worth $75.6 million, the stake surging by almost 170% over the quarter.
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