CONMED Co. (NASDAQ:CNMD) announced a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Stockholders of record on Monday, June 15th will be paid a dividend of 0.20 per share by the medical technology company on Monday, July 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, June 12th.
Shares of CNMD stock opened at $73.33 on Friday. The stock’s fifty day moving average is $66.71 and its 200-day moving average is $92.34. 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 stock has a market capitalization of $2.09 billion, a PE ratio of 77.19, a PEG ratio of 2.18 and a beta of 0.56. CONMED has a 52 week low of $37.66 and a 52 week high of $116.81.
CONMED (NASDAQ:CNMD) last announced its earnings results on Wednesday, April 29th. The medical technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.44 by $0.07. The company had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $214.85 million. CONMED had a return on equity of 11.18% and a net margin of 3.00%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, analysts forecast that CONMED will post 3.1 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on CNMD. BidaskClub lowered CONMED from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 11th. Zacks Investment Research raised CONMED from a “strong sell” rating to a “hold” rating and set a $57.00 price target on the stock in a research note on Wednesday, May 6th. SVB Leerink reaffirmed a “market perform” rating on shares of CONMED in a research note on Thursday, April 30th. TheStreet lowered CONMED from a “b-” rating to a “c+” rating in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. cut their price target on CONMED from $136.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $91.43.
CONMED Company Profile
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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