CONMED Co. (CNMD) to Issue Quarterly Dividend of $0.20 on January 3rd

CONMED Co. (NYSE:CNMD) announced a quarterly dividend on Monday, December 9th,RTT News reports. Shareholders of record on Friday, December 20th will be given a dividend of 0.20 per share on Friday, January 3rd. This represents a $0.80 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Friday, December 20th.

CONMED has a payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect CONMED to earn $4.82 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 16.6%.

CONMED Trading Down 1.9 %

NYSE CNMD traded down $1.42 on Wednesday, reaching $73.32. The company had a trading volume of 414,801 shares, compared to its average volume of 479,774. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.93 and a beta of 1.46. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $117.27. The business has a 50 day moving average of $69.54 and a two-hundred day moving average of $70.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Analysts forecast that CONMED will post 4.03 EPS for the current year.

Analyst Ratings Changes

CNMD has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.80.

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.