CONMED Co. (NASDAQ:CNMD) announced a quarterly dividend on Thursday, November 21st, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, December 12th.
CONMED stock traded up $0.24 during trading hours on Tuesday, hitting $112.47. The company had a trading volume of 3,932 shares, compared to its average volume of 204,089. The firm has a market capitalization of $3.24 billion, a P/E ratio of 51.59, 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. The firm’s fifty day moving average is $109.36 and its 200-day moving average is $95.77. CONMED has a fifty-two week low of $56.90 and a fifty-two week high of $116.81.
CONMED (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The medical technology company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The firm had revenue of $233.60 million for the quarter, compared to analyst estimates of $228.12 million. CONMED had a net margin of 3.15% and a return on equity of 10.50%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Analysts anticipate that CONMED will post 2.64 earnings per share for the current year.
Several research analysts have weighed in on the stock. Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. assumed coverage on shares of CONMED in a research note on Tuesday, November 12th. They issued an “overweight” rating and a $136.00 price objective on the stock. Piper Jaffray Companies upgraded shares of CONMED from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $88.00 to $110.00 in a research note on Thursday, August 22nd. ValuEngine lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $113.50.
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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