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

CONMED Co. (NASDAQ:CNMD) declared a quarterly dividend on Thursday, November 21st, Zacks reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.20 per share by the medical technology company on Tuesday, January 7th. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, December 12th.

Shares of NASDAQ CNMD traded up $0.04 during mid-day trading on Tuesday, hitting $112.27. The company had a trading volume of 5,390 shares, compared to its average volume of 204,089. The company has a market capitalization of $3.24 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 2.88 and a beta of 0.51. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.48 and a quick ratio of 1.40. CONMED has a 1-year low of $56.90 and a 1-year high of $116.81. The business’s 50-day simple moving average is $109.36 and its 200 day simple moving average is $95.77.

CONMED (NASDAQ:CNMD) last released its earnings results on Wednesday, October 30th. The medical technology company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. CONMED had a return on equity of 10.50% and a net margin of 3.15%. The firm had revenue of $233.60 million during the quarter, compared to analysts’ expectations of $228.12 million. During the same period in the previous year, the firm posted $0.46 EPS. CONMED’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts expect that CONMED will post 2.64 EPS for the current year.

Several brokerages have recently issued reports on CNMD. BidaskClub cut CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Friday, November 1st. Piper Jaffray Companies raised shares of CONMED from a “neutral” rating to an “overweight” rating and raised their target price for the company from $88.00 to $110.00 in a report on Thursday, August 22nd. Finally, ValuEngine downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. CONMED presently has an average rating of “Buy” and a consensus price target of $113.50.

In other CONMED news, VP John Jed Kennedy sold 11,354 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $114.01, for a total value of $1,294,469.54. Also, EVP Peter K. Shagory sold 1,820 shares of CONMED stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $109.34, for a total value of $198,998.80. Following the sale, the executive vice president now directly owns 3,469 shares of the company’s stock, valued at $379,300.46. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

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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