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

CONMED Co. (NYSE:CNMD) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Friday, March 14th will be paid 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 1.30%. The ex-dividend date is Friday, March 14th.

CONMED has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE:CNMD opened at $61.43 on Thursday. CONMED has a one year low of $59.50 and a one year high of $86.96. The stock has a fifty day moving average of $67.78 and a 200-day moving average of $69.66. The company has a market capitalization of $1.90 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. As a group, equities analysts anticipate that CONMED will post 4.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CNMD shares. Needham & Company LLC reduced their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Stifel Nicolaus raised their price objective 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. Finally, JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $70.00 in a 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.