CONMED Co. Announces Quarterly Dividend of $0.20 (NYSE:CNMD)

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.20 per share on Friday, April 4th. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, March 14th.

CONMED has a payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CONMED to earn $5.07 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 15.8%.

CONMED Stock Down 0.9 %

CNMD opened at $62.08 on Wednesday. The business has a 50 day moving average of $66.00 and a 200-day moving average of $69.17. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.83 and a beta of 1.53. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. CONMED has a 1-year low of $55.22 and a 1-year high of $86.96.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. As a group, sell-side analysts anticipate that CONMED will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC decreased their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and cut their target price for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and an average target price of $77.20.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.