CONMED Corporation (CNMD) to Issue Quarterly Dividend of $0.20 on October 5th
CONMED Corporation (NASDAQ:CNMD) declared a quarterly dividend on Tuesday, August 29th, RTT News reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.20 per share by the medical technology company on Thursday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, September 14th.
CONMED Corporation (NASDAQ:CNMD) traded up 0.703% on Wednesday, hitting $50.875. The stock had a trading volume of 16,997 shares. The firm’s 50-day moving average is $49.56 and its 200-day moving average is $48.22. The company has a market cap of $1.42 billion, a P/E ratio of 91.011 and a beta of 0.68. CONMED Corporation has a 52-week low of $37.60 and a 52-week high of $52.82.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $194.50 million. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Equities research analysts anticipate that CONMED Corporation will post $1.87 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on CNMD. BidaskClub upgraded CONMED Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. TheStreet upgraded CONMED Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Needham & Company LLC increased their price objective on CONMED Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. KeyCorp reiterated a “hold” rating on shares of CONMED Corporation in a research note on Friday, August 25th. Finally, Zacks Investment Research cut CONMED Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $49.33.
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In other CONMED Corporation news, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the director now directly owns 19,782 shares in the company, valued at $989,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.62% of the stock is owned by company insiders.
About CONMED Corporation
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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