CONMED (NYSE:CNMD) Announces Earnings Results

CONMED (NYSE:CNMD) announced its earnings results on Wednesday. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14, Zacks reports. CONMED had a net margin of 10.23% and a return on equity of 13.84%.

CONMED Trading Up 2.0 %

NYSE CNMD traded up $1.47 during trading on Wednesday, hitting $74.35. The company had a trading volume of 569,716 shares, compared to its average volume of 414,837. CONMED has a one year low of $61.05 and a one year high of $88.60. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.46. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average is $70.62 and its 200-day moving average is $70.19.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.08%. CONMED’s payout ratio is 19.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CNMD. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.80.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.