Conmed (CNMD) AI Stock Analysis

• Market Cap: $1.50B
• Dividend Yield: 1.65%
• Average Volume (3M): 345.31K
• Price to Earnings (P/E): 13.7
• Beta (1Y): 0.49
• Revenue Growth: 4.02%
• EPS Growth: 11.32%
• Country: US
• Employees: 3,900
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 1.15
• Shares Outstanding: 30,954,964
• 10 Day Avg. Volume: 385,711
• 30 Day Avg. Volume: 345,309
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.64
• Enterprise Value/Revenue: 1.86
• Enterprise Value/Gross Profit: 3.31
• Enterprise Value/Ebitda: 10.88
• 1Y Price Target: $68.00
• Price Target Upside: 47.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 74 Outperform
• Price Target: $59.00 ▲(28.29% Upside)

Conmed's overall stock score of 74 reflects its strong financial performance and positive earnings call insights, which are slightly offset by neutral technical indicators and a balanced valuation. The company's growth trajectory and strategic initiatives in the medical devices industry position it well for future expansion.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, positioning Conmed for sustained expansion in the medical devices industry.

Product Innovation

Innovative products like BioBrace enhance Conmed's competitive edge, driving demand and supporting long-term growth in the orthopedic segment.

Cash Flow Management

Strong cash flow management ensures Conmed can fund growth initiatives and maintain financial stability, crucial for long-term success.

Negative Factors

Orthopedic Market Share Loss

Losing market share in orthopedics could hinder Conmed's growth in this segment, requiring strategic adjustments to regain competitive positioning.

Higher SG&A Expenses

Increased SG&A expenses may pressure margins, potentially impacting profitability if not managed effectively over the long term.

Impact of Tariffs and Currency

Tariff and currency fluctuations pose ongoing risks to earnings, necessitating strategic mitigation to protect profitability and financial health.

Conmed Business Overview & Revenue Model

Company Description

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries. The company markets orthopedic surgery products under the Hall, CONMED Linvatec, Concept, and Shutt brands. It also offers general surgery products, such as clinical insufflation, smoke evacuation, electrosurgical, and endomechanical products; and endoscopic technologies, including diagnostic and therapeutic products for use in gastroenterology procedures, and products for the treatment of diseases of the biliary structures, as well as cardiac monitoring products comprising ECG and EEG electrodes, and cardiac defibrillation pads. The company markets its products directly to hospitals, surgery centers, and other healthcare institutions, as well as through medical specialty distributors. CONMED Corporation was incorporated in 1970 and is headquartered in Largo, Florida.

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 steady revenue growth and strong cash flow generation. Margins are good, but high leverage and a slight decrease in net profit margin pose risks. Improvement in ROE and cash flow performance is positive, but managing debt and improving net margins remain crucial.

Income Statement

Conmed has shown steady revenue growth with a TTM revenue increase of 1% over the previous year. Gross Profit Margin is strong at 55.44%, indicating effective cost management. However, the Net Profit Margin decreased slightly to 9.02% in the TTM, which is a concern. Despite this, the EBIT and EBITDA margins of 13.01% and 16.50% respectively reflect good operational efficiency.

Balance Sheet

The company's Debt-to-Equity Ratio is relatively high at 0.91, suggesting significant leverage. However, the Return on Equity (ROE) has improved to 12.15%, indicating better profitability relative to shareholder equity. The Equity Ratio is 42.55%, which highlights a balanced capital structure, though there is room for improvement.

Cash Flow

Free Cash Flow has grown by 6.94% in the TTM, a positive indicator of the company's cash-generating ability. The Operating Cash Flow to Net Income ratio is robust at 1.51, showing strong cash conversion from profits. Furthermore, the Free Cash Flow to Net Income ratio at 1.39 underscores solid cash flow performance.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.33B	1.31B	1.24B	1.05B	1.01B	862.46M
Gross Profit	745.40M	733.03M	676.25M	571.25M	568.04M	460.30M
EBITDA	226.56M	272.18M	192.48M	7.80M	158.38M	113.58M
Net Income	110.20M	132.42M	64.46M	-80.58M	62.54M	9.52M
Balance Sheet
Total Assets	2.33B	2.31B	2.30B	2.30B	1.77B	1.75B
Cash, Cash Equivalents and Short-Term Investments	33.94M	24.46M	24.30M	28.94M	20.85M	27.36M
Total Debt	881.83M	905.78M	991.25M	1.05B	684.66M	775.86M
Total Liabilities	1.33B	1.34B	1.47B	1.55B	980.58M	1.04B
Stockholders Equity	1.00B	962.68M	834.22M	745.54M	785.43M	709.04M
Cash Flow
Free Cash Flow	148.24M	153.88M	106.32M	11.58M	96.90M	51.52M
Operating Cash Flow	165.21M	166.97M	125.35M	33.37M	111.77M	64.53M
Investing Cash Flow	-16.12M	-13.08M	-20.03M	-249.53M	-14.87M	-13.64M
Financing Cash Flow	-144.83M	-151.00M	-110.43M	225.00M	-101.55M	-52.06M

Conmed Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 45.99
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 45.99 is below the 20-day moving average (MA) of 51.95, below the 50-day MA of 51.95, and below the 200-day MA of 57.85, indicating a bearish trend. The MACD of -1.32 indicates Positive momentum. The RSI at 30.48 is Neutral, neither overbought nor oversold. The STOCH value of 5.35 is Positive, 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
CNMD	74 Outperform	$1.50B	13.71	11.69%	1.65%	4.02%	11.32%
UFPT	73 Outperform	1.49B	22.03	17.21%	―	40.98%	34.80%
AHCO	63 Neutral	1.21B	16.32	5.15%	―	-0.61%	―
AORT	55 Neutral	1.93B	-94.07	-4.27%	―	7.44%	-109.83%
PRCT	50 Neutral	2.09B	-23.78	-21.81%	―	55.71%	24.37%
IART	47 Neutral	1.08B	-2.02	-48.20%	―	3.53%	-2309.98%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Conmed Corporate Events

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 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.