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

CONMED Co. (NYSE:CNMD) announced a quarterly dividend on Monday, August 12th, Wall Street Journal reports. Investors of record on Monday, September 16th will be paid a dividend of 0.20 per share on Friday, October 4th. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, September 16th.

CONMED has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CONMED to earn $5.40 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 14.8%.

CONMED Stock Performance

Shares of CNMD stock traded down $1.03 during mid-day trading on Monday, hitting $66.04. 597,737 shares of the stock were exchanged, compared to its average volume of 528,800. CONMED has a 12-month low of $61.05 and a 12-month high of $117.27. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 0.67 and a beta of 1.42. The stock’s fifty day simple moving average is $69.83 and its two-hundred day simple moving average is $75.26.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $332.10 million for the quarter, compared to analyst estimates of $334.39 million. CONMED had a net margin of 7.73% and a return on equity of 14.12%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. On average, analysts forecast that CONMED will post 3.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNMD. Wells Fargo & Company reduced their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Piper Sandler cut their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC decreased their target price on shares of CONMED from $106.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Stifel Nicolaus cut their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

Insider Transactions at CONMED

In other CONMED news, insider Stanley W. Peters III sold 4,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $71.82, for a total value of $287,280.00. Following the completion of the transaction, the insider now directly owns 63 shares in the company, valued at approximately $4,524.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

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.