Conmed (CNMD) AI Stock Analysis

• Market Cap: $1.41B
• Dividend Yield: 1.8%
• Average Volume (3M): 368.83K
• Price to Earnings (P/E): 12.9
• Beta (1Y): 0.60
• Revenue Growth: 4.69%
• EPS Growth: -51.57%
• Country: US
• Employees: 3,900
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 1.08
• Shares Outstanding: 30,954,964
• 10 Day Avg. Volume: 284,080
• 30 Day Avg. Volume: 368,831
• PEG Ratio: 0.15
• Price to Book (P/B): 2.19
• Price to Sales (P/S): 1.62
• P/FCF Ratio: 13.72
• Enterprise Value/Market Cap: 1.74
• Enterprise Value/Revenue: 1.83
• Enterprise Value/Gross Profit: 3.37
• Enterprise Value/Ebitda: 12.87
• 1Y Price Target: $53.50
• Price Target Upside: 21.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $48.00 ▲(9.17% Upside)

Conmed's overall stock score reflects strong financial performance and strategic initiatives for growth, tempered by technical weakness and challenges in profitability. The shift in capital allocation strategy and recent earnings call insights contribute positively, but technical indicators suggest caution.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion.

Cash Flow Management

Efficient cash generation enhances financial flexibility, enabling strategic investments and resilience against market fluctuations.

Strategic Initiatives

The shift to share repurchases reflects a focus on enhancing shareholder value and financial flexibility, supporting long-term growth.

Negative Factors

Profit Margin Pressure

Decreasing profit margins suggest challenges in cost management and pricing power, potentially impacting profitability.

Tariff Impact

Tariff impacts on margins can erode profitability and competitiveness, posing risks to financial performance.

GAAP Net Income Decrease

A sharp decline in GAAP net income indicates potential operational inefficiencies or market challenges, affecting investor confidence.

Conmed Business Overview & Revenue Model

Company Description

Conmed Corporation (CNMD) is a global medical technology company that specializes in surgical instruments and devices for minimally invasive procedures, primarily in the orthopedic, surgical, and specialty markets. The company focuses on developing innovative products and solutions to enhance patient outcomes and improve surgical efficiency. Conmed's core offerings include surgical video systems, powered surgical instruments, and a variety of orthopedic and general surgical devices.

How the Company Makes Money

Conmed generates revenue primarily through the sale of its medical devices and surgical instruments. The company has a diversified revenue model that includes direct sales to hospitals and healthcare providers, as well as distribution through third-party partners. Key revenue streams come from their product categories such as arthroscopy, electrosurgery, and orthopedic instruments. Additionally, Conmed benefits from recurring revenue through the sale of disposable products used in surgical procedures. Significant partnerships with healthcare institutions and collaborations for research and development further contribute to its earnings, as they enhance product offerings and expand market reach.

Conmed Financial Statement Overview

Summary

Conmed shows strong revenue growth and effective cash flow management with improvements in leverage. However, challenges in maintaining profit margins and operational efficiency persist.

Income Statement

Conmed has demonstrated consistent revenue growth with a TTM revenue growth rate of 1.60% and a strong gross profit margin of 56.12%. However, the net profit margin has decreased to 8.30% from 10.13% in the previous year, indicating some pressure on profitability. The EBIT and EBITDA margins have also slightly decreased, suggesting operational challenges.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.88 from 0.98, indicating better leverage management. Return on equity is at 11.37%, showing decent profitability relative to equity. However, the equity ratio remains stable, suggesting a balanced asset structure.

Cash Flow

Conmed's free cash flow growth is robust at 48.20%, and the free cash flow to net income ratio is strong at 89.73%, indicating efficient cash generation. However, the operating cash flow to net income ratio has decreased slightly, suggesting potential areas for improvement in cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.35B	1.31B	1.24B	1.05B	1.01B	862.46M
Gross Profit	732.52M	733.03M	676.25M	571.25M	568.04M	460.30M
EBITDA	191.52M	251.63M	192.48M	7.80M	158.38M	113.58M
Net Income	64.07M	132.42M	64.46M	-80.58M	62.54M	9.52M
Balance Sheet
Total Assets	2.32B	2.31B	2.30B	2.30B	1.77B	1.75B
Cash, Cash Equivalents and Short-Term Investments	38.93M	24.46M	24.30M	28.94M	20.85M	27.36M
Total Debt	853.75M	947.16M	991.25M	1.05B	684.66M	775.86M
Total Liabilities	1.31B	1.34B	1.47B	1.55B	980.58M	1.04B
Stockholders Equity	1.01B	962.68M	834.22M	745.54M	785.43M	709.04M
Cash Flow
Free Cash Flow	148.96M	153.88M	106.32M	11.58M	96.90M	51.52M
Operating Cash Flow	167.69M	166.97M	125.35M	33.37M	111.77M	64.53M
Investing Cash Flow	-17.89M	-13.08M	-20.03M	-249.53M	-14.87M	-13.64M
Financing Cash Flow	-149.52M	-151.00M	-110.43M	225.00M	-101.55M	-52.06M

Conmed Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 43.97
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNMD, the sentiment is Negative. The current price of 43.97 is below the 20-day moving average (MA) of 45.83, below the 50-day MA of 48.19, and below the 200-day MA of 54.25, indicating a bearish trend. The MACD of -0.92 indicates Positive momentum. The RSI at 38.96 is Neutral, neither overbought nor oversold. The STOCH value of 32.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNMD.

Conmed Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UFPT	76 Outperform	$1.72B	26.20	18.31%	―	29.47%	23.24%
AHCO	70 Neutral	$1.40B	17.63	4.77%	―	-0.23%	―
CNMD	66 Neutral	$1.41B	12.91	6.60%	1.80%	4.69%	-51.57%
AORT	62 Neutral	$2.24B	―	-2.45%	―	9.81%	-1066.50%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IART	45 Neutral	$873.95M	―	-38.71%	―	4.99%	-7151.40%
PRCT	41 Neutral	$1.75B	-20.75	-27.22%	―	50.07%	21.22%

Conmed Corporate Events

Conmed Corporation’s Earnings Call Highlights Growth and Strategic Shifts

Conmed Corporation’s recent earnings call conveyed a generally positive sentiment, with strong revenue growth and strategic initiatives aimed at enhancing long-term profitability and shareholder value. Nevertheless, the company faces challenges such as tariff impacts on margins and a notable decrease in GAAP net income. The strategic shift from dividends to share repurchases reflects a focus on financial flexibility.

CONMED Corporation Reports Q3 2025 Financial Results

CONMED Corporation is a medical technology company that provides devices and equipment for surgical procedures across various specialties, including orthopedics and general surgery. In its latest earnings report for the third quarter of 2025, CONMED Corporation reported a 6.7% year-over-year increase in sales, reaching $337.9 million. The company also announced a new $150 million share repurchase program while suspending its quarterly cash dividend.

Conmed Appoints Kim Kelderman to Board of Directors

On September 8, 2025, CONMED Corporation announced the appointment of Kim Kelderman to its Board of Directors. Mr. Kelderman, who has extensive experience in the life sciences sector, will serve on the Corporate Governance and Nominating Committee and the Strategy Committee. His previous roles include President and CEO of Bio-Techne and leadership positions at Thermo Fisher Scientific and Becton Dickinson. This strategic appointment is expected to enhance CONMED’s board with Mr. Kelderman’s global leadership experience and insights, supporting the company’s long-term vision and stakeholder value delivery.

The most recent analyst rating on (CNMD) stock is a Buy with a $62.00 price target. To see the full list of analyst forecasts on Conmed stock, see the CNMD Stock Forecast page.

Conmed’s BioBrace® Study: A Potential Game-Changer in ACL Reconstruction

Conmed Corporation is conducting a study titled ‘Real World Evaluation of the Safety and Effectiveness of BioBrace® Augmentation in Anterior Cruciate Ligament (ACL) Reconstruction Procedures.’ The study aims to assess the mid-term clinical safety and performance of the BioBrace® Reinforced Implant used to augment tissue grafts during ACL reconstruction. This research is significant as it could enhance surgical outcomes for patients with ACL tears.

Conmed’s BioBrace® Study: A Potential Game-Changer in ACL Reconstruction

Conmed Corporation is currently recruiting participants for a study titled ‘Real World Evaluation of the Safety and Effectiveness of BioBrace® Augmentation in Anterior Cruciate Ligament (ACL) Reconstruction Procedures.’ The study aims to assess the mid-term clinical safety and performance outcomes of the BioBrace® Reinforced Implant in ACL reconstruction, highlighting its significance in improving surgical outcomes.

Conmed Declares Quarterly Cash Dividend Announcement

On August 7, 2025, CONMED Corporation’s Board of Directors declared a quarterly cash dividend of $0.20 per share, which will be payable on October 3, 2025, to shareholders recorded by September 15, 2025. This announcement reflects CONMED’s ongoing commitment to returning value to its shareholders and may positively influence investor sentiment and the company’s market position.

The most recent analyst rating on (CNMD) stock is a Buy with a $97.00 price target. To see the full list of analyst forecasts on Conmed stock, see the CNMD Stock Forecast page.