CONMED Co. (NASDAQ:CNMD) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.20 per share by the medical technology company on Monday, January 7th. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 13th.
CONMED has a payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CONMED to earn $2.42 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 33.1%.
Shares of CNMD opened at $65.33 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 2.67 and a beta of 0.64. CONMED has a 12 month low of $49.22 and a 12 month high of $83.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.27 and a current ratio of 2.20.
CONMED (NASDAQ:CNMD) last announced its earnings results on Thursday, November 1st. The medical technology company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $202.30 million for the quarter, compared to the consensus estimate of $198.51 million. CONMED had a return on equity of 9.51% and a net margin of 8.56%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, equities research analysts forecast that CONMED will post 2.17 EPS for the current year.
Several brokerages have commented on CNMD. BidaskClub downgraded CONMED from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Barclays set a $78.00 target price on CONMED and gave the stock an “equal weight” rating in a report on Tuesday, October 16th. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Leerink Swann lifted their target price on CONMED from $76.00 to $81.00 and gave the stock a “market perform” rating in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.50.
In other news, VP Stanley W. Peters III sold 1,500 shares of CONMED stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $80.43, for a total value of $120,645.00. Following the completion of the transaction, the vice president now directly owns 1,496 shares of the company’s stock, valued at approximately $120,323.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Heather L. Cohen acquired 900 shares of the stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average cost of $68.60 per share, with a total value of $61,740.00. The disclosure for this purchase can be found here. 3.13% of the stock is currently owned by insiders.
CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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