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

CONMED Co. (NYSE:CNMD) announced a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors 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 1.29%.

CONMED has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Research 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 Down 0.9 %

NYSE CNMD traded down $0.56 on Wednesday, hitting $62.18. The stock had a trading volume of 46,389 shares, compared to its average volume of 473,897. CONMED has a 52-week low of $59.50 and a 52-week high of $86.96. The business’s fifty day moving average price is $67.94 and its 200 day moving average price is $69.72. 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 stock has a market cap of $1.92 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities research analysts anticipate that CONMED will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNMD. Needham & Company LLC dropped their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Stifel Nicolaus lifted their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded 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 research report on Thursday, February 6th. Finally, Wells Fargo & Company dropped 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.