CONMED Co. (NASDAQ:CNMD) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Friday, December 14th will be paid a dividend of 0.20 per share by the medical technology company on Monday, January 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 13th.
CONMED has a dividend payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CONMED to earn $2.42 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 33.1%.
Shares of CONMED stock opened at $65.33 on Friday. CONMED has a one year low of $49.22 and a one year high of $83.49. The stock has a market capitalization of $1.87 billion, a P/E ratio of 31.09, a PEG ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.20 and a quick ratio of 1.27.
In related news, EVP Heather L. Cohen purchased 900 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average price of $68.60 per share, for a total transaction of $61,740.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Stanley W. Peters III sold 1,500 shares of CONMED stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $80.43, for a total value of $120,645.00. Following the transaction, the vice president now owns 1,496 shares of the company’s stock, valued at approximately $120,323.28. The disclosure for this sale can be found here. 3.13% of the stock is currently owned by insiders.
A number of brokerages recently commented on CNMD. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 7th. Leerink Swann boosted their target price on CONMED from $76.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, August 30th. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Finally, Barclays set a $78.00 target price on CONMED and gave the company an “equal weight” rating in a research report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $81.50.
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CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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