CONMED Co. (CNMD) Plans Quarterly Dividend of $0.20
CONMED (NASDAQ:CNMD) declared a quarterly dividend on Friday, May 23rd, Stock Ratings News reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.20 per share on Monday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.76%.
CNMD has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of CONMED in a research note on Friday, April 25th. They now have a $47.00 price target on the stock. Analysts at Ladenburg Thalmann upgraded shares of CONMED from a “neutral” rating to a “buy” rating in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $43.67.
Shares of CONMED (NASDAQ:CNMD) opened at 45.39 on Friday. CONMED has a 52 week low of $29.95 and a 52 week high of $50.47. The stock’s 50-day moving average is $46.15 and its 200-day moving average is $43.49. The company has a market cap of $1.235 billion and a P/E ratio of 37.42. CONMED also was the target of a large drop in short interest in April. As of April 30th, there was short interest totalling 848,560 shares, a drop of 29.1% from the April 15th total of 1,197,327 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 335,909 shares, the days-to-cover ratio is presently 2.5 days.
CONMED (NASDAQ:CNMD) last released its earnings data on Thursday, April 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $181.90 million for the quarter, compared to the consensus estimate of $191.95 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that CONMED will post $1.94 earnings per share for the current fiscal year.
CONMED Corporation (NASDAQ:CNMD) is a medical technology company/ The Company emphasizes on surgical devices and equipment for minimally invasive procedures and monitoring.
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