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

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.20 per share on Friday, April 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.29%.

CONMED has a dividend 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 Price Performance

Shares of NYSE CNMD opened at $62.00 on Tuesday. The stock’s 50-day simple moving average is $68.11 and its 200-day simple moving average is $69.75. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The firm has a market capitalization of $1.92 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. CONMED has a fifty-two week low of $59.50 and a fifty-two week high of $86.96.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping 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, equities research analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CNMD. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC dropped their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus increased their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.