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

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Friday, March 14th will be paid 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 1.29%.

CONMED has a payout ratio of 16.4% meaning 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 Trading Down 0.9 %

NYSE:CNMD traded down $0.56 during trading hours on Wednesday, hitting $62.18. The company had a trading volume of 46,389 shares, compared to its average volume of 473,897. CONMED has a 1 year low of $59.50 and a 1 year high of $86.96. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average of $67.94 and a 200 day moving average of $69.72. The company has a market cap of $1.92 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.83 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Sell-side analysts expect that CONMED will post 4.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC lowered their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised their price target on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three 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 presently has a consensus rating of “Moderate Buy” and an average target price of $77.20.

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.