Conmed Corp Stock Price, News & Analysis

CONMED Corporation (NYSE: CNMD) has priced a private offering of $700 million in 2.25% convertible senior notes due 2027. The offering includes an option for initial purchasers to acquire an additional $100 million. The net proceeds will fund convertible note hedge transactions, repurchase existing notes, and finance a portion of its acquisition of In2Bones Global, Inc. The notes will pay interest semi-annually and will be convertible under specific conditions, with a conversion price set at approximately $145.33 per share, representing a 30% premium to the stock's recent price.

CONMED Corporation (NYSE: CNMD) announced a private offering of $600 million in convertible senior notes due 2027. The offering may increase by an additional $100 million if the initial purchasers exercise their option. Proceeds are intended for costs related to the convertible note hedge transactions, repurchasing existing notes, and funding the acquisition of In2Bones Global, Inc. The notes will mature on June 15, 2027, and are subject to specific conversion conditions. The overall offering structure aims to minimize dilution of common stock upon conversion.

CONMED Corporation (NYSE: CNMD) has declared a quarterly cash dividend of $0.20 per share, payable on July 5, 2022, to shareholders of record as of June 15, 2022. The company specializes in medical technology, providing surgical devices for minimally invasive procedures across various specialties including orthopedics and general surgery. This dividend declaration reflects the company's commitment to return value to its shareholders amidst ongoing market uncertainties, including challenges posed by the COVID-19 pandemic.

CONMED Corporation (NYSE: CNMD) has announced a definitive agreement to acquire In2Bones Global, Inc. for $145 million upfront and up to $110 million in earnout payments over four years. The acquisition, aimed at expanding CONMED's orthopedic portfolio into the extremities market, is expected to close in late Q2 or early Q3 2022, pending regulatory approval. In2Bones reported 2021 revenues of $36.8 million with 80% gross margins. The deal is projected to contribute $20 million to CONMED's revenue in H2 2022 and to be accretive to adjusted EBITDA thereafter.

CONMED Corporation (NYSE: CNMD) reported financial results for Q1 2022, with sales reaching $242.3 million, marking a 4.1% increase year over year. Domestic revenue rose 5.9%, while international revenue grew 2.2%. Diluted EPS was $0.47, up 51.6% from Q1 2021. The company raised its 2022 revenue guidance to between $1.105 billion and $1.150 billion, incorporating $20 million from the recent acquisition of In2Bones Global, subject to regulatory approval. Adjusted diluted EPS guidance is now $3.50 to $3.65.

CONMED Corporation (NYSE: CNMD) has announced a rescheduled date for its first quarter 2022 financial results due to a corporate conflict. The results will now be reported on May 4, 2022, after market close, instead of the previously scheduled April 27, 2022. A conference call will be held at 4:30 p.m. ET the same day. Updated dial-in information for the call is provided, and it will also be available via webcast. A replay will be accessible from 7:30 p.m. ET on May 4 to 11:59 p.m. ET on May 18.

CONMED Corporation (NYSE: CNMD) will announce its financial results for Q1 2022 on April 27, 2022, after market close. A conference call will follow at 4:30 p.m. ET. Investors can join the call at 1-844-889-7792 (domestic) or +1-661-378-9936 (international) with passcode 9693807. The call will also be webcast on CONMED's website. A recording will be available from 7:30 p.m. ET on the same day until 7:30 p.m. ET on May 4, 2022.

CONMED Corporation (NYSE: CNMD) announced its Annual Meeting of Stockholders will take place virtually on May 25, 2022, at 1:30 p.m. ET. Shareholders on record as of April 5, 2022 can vote. Detailed participation instructions will be provided in the proxy statement to be filed on April 15, 2022, available on the company's website. CONMED specializes in surgical devices for minimally invasive procedures across various medical specialties.

CONMED Corporation (NYSE: CNMD) has declared a quarterly cash dividend of $0.20 per share, scheduled for payment on April 5, 2022. Shareholders on record as of March 15, 2022 will be eligible for this dividend. This decision underscores the company's commitment to returning value to its shareholders. CONMED specializes in medical technology, providing surgical devices for various specialties, which positions it well within the healthcare sector.