|Bid||102.53 x 1000|
|Ask||103.72 x 2200|
|Day's Range||102.01 - 104.06|
|52 Week Range||87.24 - 159.11|
|Beta (5Y Monthly)||1.49|
|PE Ratio (TTM)||49.15|
|Forward Dividend & Yield||0.80 (0.80%)|
|Ex-Dividend Date||Jun 14, 2022|
|1y Target Est||N/A|
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CONMED (CNMD) acquires privately-held Biorez, Inc. for $85 million. The deal is set to boost CONMED's sports medicine portfolio with the addition of Biorez's proprietary BioBrace Implant technology.
PDCO vs. CNMD: Which Stock Is the Better Value Option?
Earlier today, CONMED Corporation (NYSE: CNMD) agreed to acquire privately held Biorez Inc for $85 million and up to $165 million in commercial-based milestones. Biorez commercializes its BioBrace implant, a bioinductive scaffold used to reinforce soft tissue where weakness exists and promote soft tissue healing. Needham says that in the near term, Biorez is expected to be accretive to revenue growth and gross margins (Biorez's gross margin is >80% vs. CNMD's 2022E gross margin of ~55%). "In add