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

CONMED Co. (NYSE:CNMD) announced a quarterly dividend on Tuesday, February 25th, RTT News reports. Shareholders 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 yield of 1.30%. The ex-dividend date is Friday, March 14th.

CONMED has a payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. 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 $61.43 on Thursday. The business’s 50-day moving average is $67.78 and its two-hundred day moving average is $69.66. CONMED has a 1 year low of $59.50 and a 1 year high of $86.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The firm has a market capitalization of $1.90 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. Research analysts anticipate that CONMED will post 4.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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