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

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.20 per share on Friday, January 3rd. This represents a $0.80 annualized dividend and a yield of 1.07%.

CONMED has a payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 3.4 %

CONMED stock opened at $74.67 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2.31 billion, a PE ratio of 17.74, a PEG ratio of 0.93 and a beta of 1.46. The firm’s fifty day moving average is $69.41 and its 200 day moving average is $70.48. CONMED has a 12-month low of $61.05 and a 12-month high of $117.27.

CONMED (NYSE:CNMD) last issued its 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 during the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, sell-side analysts predict that CONMED will post 4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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