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

CONMED Co. (NYSE:CNMD) declared 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 annualized dividend 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 Stock Up 1.4 %

CNMD opened at $62.00 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED has a 12 month low of $59.50 and a 12 month high of $86.96. The stock has a market capitalization of $1.92 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.83 and a beta of 1.46. The business has a 50 day simple moving average of $68.11 and a 200-day simple moving average of $69.75.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating 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%. On average, equities analysts anticipate that CONMED will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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