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

CONMED Co. (NASDAQ:CNMD) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Monday, March 16th will be given a dividend of 0.20 per share by the medical technology company on Monday, April 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, March 13th.

Shares of NASDAQ CNMD traded down $0.22 during midday trading on Wednesday, hitting $98.06. The company’s stock had a trading volume of 220,400 shares, compared to its average volume of 309,079. CONMED has a 1-year low of $74.10 and a 1-year high of $116.81. The firm’s fifty day moving average price is $106.02 and its 200-day moving average price is $104.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.40 and a current ratio of 2.48. The firm has a market cap of $2.85 billion, a P/E ratio of 103.22, a P/E/G ratio of 2.18 and a beta of 0.56.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings results on Wednesday, January 29th. The medical technology company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. CONMED had a net margin of 3.00% and a return on equity of 11.18%. The business had revenue of $264.90 million during the quarter, compared to analyst estimates of $264.83 million. During the same period in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts predict that CONMED will post 3.1 earnings per share for the current fiscal year.

In other CONMED news, VP John Jed Kennedy sold 11,354 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $114.01, for a total transaction of $1,294,469.54. Insiders own 4.38% of the company’s stock.

CNMD has been the subject of several research reports. Zacks Investment Research lowered shares of CONMED from a “buy” rating to a “hold” rating and set a $107.00 price target for the company. in a report on Monday, February 3rd. JPMorgan Chase & Co. initiated coverage on shares of CONMED in a report on Tuesday, November 12th. They issued an “overweight” rating and a $136.00 price target for the company. BidaskClub lowered shares of CONMED from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 11th. Finally, Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $112.00.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. 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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Dividend History for CONMED (NASDAQ:CNMD)

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