CONMED Co. (CNMD) to Issue Quarterly Dividend of $0.20 on April 4th

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Monday, February 24th, 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 dividend on an annualized basis and a dividend 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. Research 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

CNMD opened at $62.08 on Wednesday. The stock has a fifty day moving average price of $66.00 and a 200 day moving average price of $69.17. 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. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.83 and a beta of 1.53.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. Analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.