CONMED Corporation (NYSE:CNMD), a medical technology company specializing in surgical and patient monitoring products, has declared a quarterly cash dividend. The announcement, made on Monday, states that shareholders of record as of December 20, 2024, will receive a dividend of $0.20 per share, representing a 1.07% yield.
The dividend is payable on January 3, 2025. The company has maintained dividend payments for 13 consecutive years, demonstrating consistent shareholder returns. According to InvestingPro, this is just one of several positive indicators for the company.
The declaration of this dividend follows CONMED's consistent practice of providing returns to its investors and reflects the company's robust financial health and commitment to shareholder value. With a perfect Piotroski Score of 9 and revenue growth of 10.23% in the last twelve months, CONMED demonstrates strong financial performance.
The dividend is distributed from earnings and is a common way for companies to share profits with their shareholders. InvestingPro analysis reveals 8 additional key insights about CONMED's financial strength.
CONMED, headquartered in Largo, Florida, operates within the electromedical and electrotherapeutic apparatus sector under the standard industrial classification code 3845. The company is incorporated in Delaware and has been publicly traded since its name change in 1992.
The dividend announcement is in line with CONMED's financial strategy and is part of the regular financial disclosures required by the Securities and Exchange Commission (SEC). The company's adherence to these regulations ensures transparency and regular communication with its investors and the broader market.
This news is based on a press release statement and provides investors with important information regarding upcoming financial benefits. It is a key piece of information for current and potential shareholders, helping them make informed decisions about their investment in CONMED Corporation.
Based on InvestingPro's Fair Value analysis, CONMED currently appears undervalued, trading at $74.69 with a P/E ratio of 17.29, presenting a potential opportunity for investors seeking value in the medical technology sector.
In other recent news, CONMED Corporation has announced growth in its third quarter of fiscal 2024, despite facing operational challenges. The medical technology company reported a 4% year-over-year increase in total sales, which reached $316.7 million.
Adjusted net income also saw a rise of 15%, amounting to $32.7 million, and adjusted diluted earnings per share grew by 16.7% to $1.05. Amid these developments, CEO Curt Hartman is set to retire, with Pat Beyer named as his successor.
Looking at future developments, CONMED has provided revenue guidance for the fourth quarter and full-year. The fourth quarter revenue is projected to range from $339 million to $344 million, while the full-year guidance is set between $1.300 billion and $1.305 billion. Notably, the company is actively addressing supply chain issues and working to enhance service levels in sports medicine.
These recent developments reflect resilience amidst challenges, including hurricanes that temporarily disrupted operations, particularly in orthopedics. Despite these hurdles, CONMED maintains a positive outlook, with expectations of high single to double-digit growth for 2025, details of which will be provided in January 2025.
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