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

CONMED Co. (NYSE:CNMD - Get Free Report) announced a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders 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 1.35%. The ex-dividend date of this dividend is Friday, March 14th.

CONMED has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities 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 0.6 %

CNMD traded down $0.35 during mid-day trading on Friday, reaching $59.09. 607,224 shares of the stock were exchanged, compared to its average volume of 485,826. CONMED has a 1 year low of $58.73 and a 1 year high of $86.96. The stock has a market capitalization of $1.83 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. The company has a 50 day moving average price of $67.57 and a two-hundred day moving average price of $69.59. 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 - Get Free Report) last released its quarterly earnings data 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 net margin of 10.13% and a return on equity of 14.31%. As a group, research analysts anticipate that CONMED will post 4.35 EPS for the current year.

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Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Needham & Company LLC cut their price target on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus boosted their price target on 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 shares of CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. 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. Finally, JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and decreased their price target 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.