CONMED Co. (NYSE:CNMD) to Issue $0.20 Quarterly Dividend

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

CONMED has a payout ratio of 16.6% indicating that 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 Stock Performance

Shares of CONMED stock opened at $74.67 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27. The firm has a fifty day moving average of $69.41 and a two-hundred day moving average of $70.48. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.93 and a beta of 1.46.

CONMED (NYSE:CNMD) last announced 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. The firm had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, equities research analysts predict that CONMED will post 4.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNMD. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CONMED has a consensus rating of “Moderate Buy” and a consensus 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.