CONMED Co. (CNMD) to Issue Quarterly Dividend of $0.20 on January 3rd

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Monday, December 9th,RTT News reports. Investors 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 dividend yield of 1.12%. The ex-dividend date is Friday, December 20th.

CONMED has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:CNMD opened at $71.23 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a market cap of $2.20 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The stock’s fifty day simple moving average is $70.19 and its two-hundred day simple moving average is $70.39. CONMED has a 1-year low of $61.05 and a 1-year high of $114.80.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The company had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. As a group, analysts forecast that CONMED will post 4.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.80.

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.