Matt Sirovich and Jeremy Mindich‘s Scopia Capital has increased its exposure to CONMED Corporation (NASDAQ:CNMD), as a recent filing with the US Securities and Exchange Commission showed. The filing revealed that Scopia owns a total of 2.38 million shares of Conmed, which is higher than the 2.09 million shares it reported in an earlier filing. In this way, the investor raised its position to 8.6% from 7.6% of the outstanding stock.
Overall, heading into 2016, a total of 15 of the hedge funds tracked by Insider Monkey were long this stock, a decline of 21% from one quarter earlier. Jacob Gottlieb’s Visium Asset Management has the largest position in CONMED Corporation (NASDAQ:CNMD), worth close to $79.6 million, comprising 1.2% of its total 13F portfolio. On Visium Asset Management’s heels is Jerome Lande and Craig Rosenblum’s Coppersmith Capital, with a $71.8 million position; 68.3% of its 13F portfolio is allocated to the stock. Remaining members of the smart money that are bullish encompass Ken Fisher’s Fisher Asset Management, Joe Huber’s Huber Capital Management and Mario Gabelli’s GAMCO Investors.
Judging by the fact that CONMED Corporation (NASDAQ:CNMD) has experienced a declination in interest from the smart money, we can see that there were a few hedge funds that elected to cut their positions entirely heading into Q4. Intriguingly, Jonathon Jacobson’s Highfields Capital Management dumped the biggest stake of all the hedgies followed by Insider Monkey, comprising close to $6.5 million in stock. Chuck Royce’s fund, Royce & Associates, also cut its stock, about $3.9 million worth.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|SCOPIA PARTNERS||17,110||2,380,264||17,110||2,380,264||17,110||Less than 1%|
|SCOPIA HEALTH CARE||46,729||46,729||46,729||Less than 1%|
|SCOPIA WINDMILL FUND||433,862||433,862||433,862||1.6%|
|SCOPIA INTERNATIONAL MASTER FUND||108,059||108,059||108,059||Less than 1%|
|SCOPIA PX INTERNATIONAL MASTER FUND||780,046||780,046||780,046||2.8%|
|SCOPIA HEALTH CARE INTERNATIONAL MASTER FUND||340,075||340,075||340,075||1.2%|
|SCOPIA CAPITAL GP||2,348,675||2,348,675||2,348,675||8.5%|
|SCOPIA CAPITAL MANAGEMENT||2,380,264||2,380,264||2,380,264||8.6%|
|SCOPIA MANAGEMENT, INC||2,380,264||2,380,264||2,380,264||8.6%|
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