CONMED Co. (NYSE:CNMD) announced a quarterly dividend on Monday, November 29th, RTT News reports. Stockholders of record on Wednesday, December 15th will be given a dividend of 0.20 per share on Wednesday, January 5th. This represents a $0.80 annualized dividend and a dividend yield of 0.60%.
Shares of CNMD stock traded down $2.39 during trading on Monday, hitting $132.69. 236,995 shares of the stock traded hands, compared to its average volume of 249,435. The firm has a market capitalization of $3.88 billion, a P/E ratio of 67.21, a price-to-earnings-growth ratio of 3.22 and a beta of 1.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.42 and a quick ratio of 1.17. The firm’s fifty day moving average price is $141.55 and its 200-day moving average price is $136.41. CONMED has a 52-week low of $97.95 and a 52-week high of $159.11.
CONMED (NYSE:CNMD) last posted its earnings results on Tuesday, October 26th. The company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. CONMED had a net margin of 6.29% and a return on equity of 12.40%. The firm had revenue of $248.83 million during the quarter, compared to the consensus estimate of $255.29 million. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that CONMED will post 3.21 earnings per share for the current year.
In other news, EVP John Jed Kennedy sold 9,462 shares of the company’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $147.64, for a total value of $1,396,969.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stanley W. Peters III sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $154.06, for a total transaction of $2,156,840.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,802 shares of company stock valued at $12,982,859. 1.10% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in CONMED stock. LPL Financial LLC boosted its stake in shares of CONMED Co. (NYSE:CNMD) by 21.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the company’s stock after buying an additional 529 shares during the quarter. LPL Financial LLC’s holdings in CONMED were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.
Several equities analysts have commented on CNMD shares. TheStreet upgraded shares of CONMED from a “c+” rating to a “b” rating in a research note on Thursday, October 21st. Needham & Company LLC boosted their price target on shares of CONMED from $150.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, October 28th. Finally, Zacks Investment Research downgraded shares of CONMED from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research note on Monday, October 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $159.60.
CONMED Company Profile
CONMED Corp. operates as a medical technology company, which engages in the development, manufacture and sale of surgical devices and related equipment. It operates through the following geographical segments: United States; Americas excluding the United States; Europe, Middle East, and Africa; and Asia Pacific.