CONMED Co. (NASDAQ:CNMD) declared a quarterly dividend on Thursday, May 24th, RTT News reports. Stockholders of record on Friday, June 15th will be paid a dividend of 0.20 per share by the medical technology company on Thursday, July 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%.
Shares of CONMED traded down $0.47, hitting $68.41, during trading hours on Thursday, according to MarketBeat.com. 4,452 shares of the stock traded hands, compared to its average volume of 187,890. CONMED has a 1-year low of $47.41 and a 1-year high of $69.55. The company has a quick ratio of 1.23, a current ratio of 2.15 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.93 billion, a PE ratio of 36.61, a price-to-earnings-growth ratio of 2.76 and a beta of 0.60.
CONMED (NASDAQ:CNMD) last released its earnings results on Wednesday, April 25th. The medical technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. CONMED had a return on equity of 9.46% and a net margin of 8.71%. The firm had revenue of $202.10 million for the quarter, compared to analyst estimates of $196.51 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. analysts anticipate that CONMED will post 2.17 EPS for the current year.
CNMD has been the topic of several analyst reports. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 27th. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, February 2nd. Needham & Company LLC increased their target price on CONMED from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Finally, ValuEngine raised CONMED from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.67.
In other CONMED news, Director Jo Ann Golden sold 5,698 shares of the stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $65.40, for a total value of $372,649.20. Following the completion of the sale, the director now directly owns 19,480 shares in the company, valued at $1,273,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Jonas sold 2,000 shares of the stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $65.58, for a total value of $131,160.00. Following the completion of the sale, the executive vice president now owns 23,245 shares of the company’s stock, valued at $1,524,407.10. The disclosure for this sale can be found here. Insiders sold 41,595 shares of company stock valued at $2,617,340 over the last 90 days. Corporate insiders own 3.13% of the company’s stock.
CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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.
Receive News & Ratings for CONMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.