CONMED (NYSE:CNMD) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

CONMED (NYSE:CNMD) issued its quarterly earnings results on Wednesday. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14, Zacks reports. CONMED had a return on equity of 13.84% and a net margin of 10.23%.

CONMED Stock Performance

Shares of CNMD stock traded up $1.47 on Wednesday, hitting $74.35. 569,716 shares of the stock were exchanged, compared to its average volume of 414,837. CONMED has a one year low of $61.05 and a one year high of $88.60. The firm has a market capitalization of $2.30 billion, a PE ratio of 17.66, a P/E/G ratio of 1.04 and a beta of 1.46. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $70.62 and its two-hundred day moving average is $70.19.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.08%. CONMED’s dividend payout ratio is currently 19.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CONMED currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

About CONMED

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.