CONMED Co. (NASDAQ:CNMD) declared a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Shareholders of record on Monday, June 15th will be given a dividend of 0.20 per share by the medical technology company on Monday, July 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, June 12th.
Shares of NASDAQ CNMD traded up $0.40 during midday trading on Friday, hitting $73.33. 213,619 shares of the company’s stock were exchanged, compared to its average volume of 453,904. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.11. CONMED has a 12 month low of $37.66 and a 12 month high of $116.81. The company’s 50 day moving average price is $66.39 and its 200 day moving average price is $92.52. The firm has a market capitalization of $2.09 billion, a PE ratio of 76.77, a price-to-earnings-growth ratio of 2.18 and a beta of 0.56.
CONMED (NASDAQ:CNMD) last issued its earnings results on Wednesday, April 29th. The medical technology company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.07. CONMED had a return on equity of 11.18% and a net margin of 3.00%. The company had revenue of $214.00 million during the quarter, compared to the consensus estimate of $214.85 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that CONMED will post 3.1 EPS for the current year.
In other news, Director John L. Workman purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average cost of $94.63 per share, with a total value of $189,260.00. Following the acquisition, the director now owns 16,035 shares in the company, valued at approximately $1,517,392.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.38% of the company’s stock.
Several brokerages have recently commented on CNMD. Stifel Nicolaus lifted their target price on CONMED from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. TheStreet downgraded CONMED from a “b-” rating to a “c+” rating in a research note on Monday, April 6th. BidaskClub downgraded CONMED from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on CONMED from $136.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. One research 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’s stock. CONMED has an average rating of “Hold” and a consensus target price 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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