CNMD Stock Analysis: CONMED | NYSE
Medical Devices | NYSE, USA | Market Cap: 1.019m USD | 12M Return: -27.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 20.6M
EPS Trend: 45.3%
Qual. Beats: 0
Rev. Trend: 94.9%
Qual. Beats: 4
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
CONMED Corporation (NYSE: CNMD) is a U.S.-based medical technology company that develops, manufactures, and sells surgical devices and equipment across three main product categories: orthopedic surgery, general surgery, and endoscopic technologies. Its orthopedic offerings include soft tissue fixation systems like BioBrace and the Y-Knot suture anchor family, along with powered resection instruments and fluid management systems used in minimally invasive sports medicine procedures, while its Hall surgical brand provides battery-powered bone power tools for orthopedic, spinal, and cardiothoracic applications. The general surgery portfolio spans insufflation systems (AirSeal), smoke removal devices (Buffalo Filter), endomechanical products, and electrosurgical generators and accessories, and the endoscopic segment supplies devices for gastroenterology procedures as well as electrodes and defibrillation pads for patient monitoring. CONMED sells its products directly to hospitals and ambulatory surgery centers and through medical specialty distributors, and the company is headquartered in Largo, Florida.
The medical device industry is characterized by long product development cycles, regulatory approval requirements from bodies such as the U.S. Food and Drug Administration, and demand driven by surgical procedure volumes in aging populations. CONMEDs broad portfolio across orthopedic, general surgery, and endoscopy gives it exposure to multiple procedure types while concentrating on the minimally invasive surgery segment, which has been a long-standing growth area in the health care equipment sub-industry.
- AirSeal insufflation system drives General Surgery segment growth
- Hospital capital spending slowdown pressures procedural device demand
- Competition from Stryker and J&J challenges orthopedic market share
| Net Income: 54.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.82 > 1.0 |
| NWC/Revenue: 27.54% < 20% (prev 27.08%; Δ 0.46% < -1%) |
| CFO/TA 0.06 > 3% & CFO 142.6m > Net Income 54.8m |
| Net Debt (848.6m) to EBITDA (169.6m): 5.00 < 3 |
| Current Ratio: 2.29 > 1.5 & < 3 |
| Outstanding Shares: last quarter (30.6m) vs 12m ago -1.70% < -2% |
| Gross Margin: 53.58% > 18% (prev 55.47%; Δ -1.89% > 0.5%) |
| Asset Turnover: 59.49% > 50% (prev 57.19%; Δ 2.30% > 0%) |
| Interest Coverage Ratio: 3.74 > 6 (EBIT TTM 111.7m / Interest Expense TTM 29.9m) |
| A: 0.16 (Total Current Assets 670.6m - Total Current Liabilities 292.7m) / Total Assets 2.31b |
| B: 0.26 (Retained Earnings 602.6m / Total Assets 2.31b) |
| C: 0.05 (EBIT TTM 111.7m / Avg Total Assets 2.31b) |
| D: 0.78 (Book Value of Equity 1.02b / Total Liabilities 1.30b) |
| Altman-Z'' = 3.07 = A |
| DSRI: 0.99 (Receivables 228.7m/221.1m, Revenue 1.37b/1.31b) |
| GMI: 1.04 (GM 55.47% / 53.58%) |
| AQI: 0.99 (AQ_t 0.66 / AQ_t-1 0.67) |
| SGI: 1.04 (Revenue 1.37b / 1.31b) |
| TATA: -0.04 (NI 54.8m - CFO 142.6m) / TA 2.31b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of July 11, 2026, the stock is trading at USD 38.48 with a total of 1,346,666 shares traded. Over the past week, the price has changed by +13.75%, over one month by +6.01%, over three months by +4.74% and over the past year by -27.90%.
Current recommended Stop Loss: 35.70 (which is 7.2% or 1.4 ATR below the current price).
CONMED has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold CNMD.
- StrongBuy: 0
- Buy: 0
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 39.6 | 2.9% |
P/E Trailing = 19.113
P/E Forward = 27.1739
P/S = 0.7432
P/B = 1.0009
P/EG = 1.8437
Revenue TTM = 1.37b USD
EBIT TTM = 111.7m USD
EBITDA TTM = 169.6m USD
Long Term Debt = 860.2m USD (from longTermDebt, last quarter)
Short Term Debt = 711k USD (from shortTermDebt, last quarter)
Debt = 883.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 22.8m
Net Debt = 848.6m USD (calculated: Debt 883.7m - CCE 35.0m)
Enterprise Value = 1.87b USD (1.02b + Debt 883.7m - CCE 35.0m)
Interest Coverage Ratio = 3.74 (Ebit TTM 111.7m / Interest Expense TTM 29.9m)
EV/FCF = 15.09x (Enterprise Value 1.87b / FCF TTM 123.7m)
FCF Yield = 6.63% (FCF TTM 123.7m / Enterprise Value 1.87b)
FCF Margin = 9.02% (FCF TTM 123.7m / Revenue TTM 1.37b)
Net Margin = 4.00% (Net Income TTM 54.8m / Revenue TTM 1.37b)
Gross Margin = 53.58% ((Revenue TTM 1.37b - Cost of Revenue TTM 636.9m) / Revenue TTM)
Gross Margin QoQ = 57.86% (prev 57.12%)
Tobins Q-Ratio = 0.81 (Enterprise Value 1.87b / Total Assets 2.31b)
Interest Expense / Debt = 3.38% (Interest Expense 29.9m / Debt 883.7m)
Taxrate = 32.95% (27.0m / 81.8m)
NOPAT = 74.9m (EBIT 111.7m * (1 - 32.95%))
Current Ratio = 2.29 (Total Current Assets 670.6m / Total Current Liabilities 292.7m)
Debt / Equity = 0.87 (Debt 883.7m / totalStockholderEquity, last quarter 1.02b)
Debt / EBITDA = 5.00 (Net Debt 848.6m / EBITDA 169.6m)
Debt / FCF = 6.86 (Net Debt 848.6m / FCF TTM 123.7m)
Total Stockholder Equity = 1.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.38% (Net Income 54.8m / Total Assets 2.31b)
RoE = 5.40% (Net Income TTM 54.8m / Total Stockholder Equity 1.02b)
RoCE = 5.95% (EBIT 111.7m / Capital Employed (Equity 1.02b + L.T.Debt 860.2m))
RoIC = 3.77% (NOPAT 74.9m / Invested Capital 1.99b)
WACC = 5.89% (E(1.02b)/V(1.90b) * Re(9.03%) + D(883.7m)/V(1.90b) * Rd(3.38%) * (1-Tc(0.33)))
Discount Rate = 9.03% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -76.41 | Cagr: -1.25%
[DCF] Terminal Value 73.10% ; FCFF base≈140.0m ; Y1≈122.8m ; Y5≈99.2m
[DCF] Fair Price = 24.71 (EV 1.59b - Net Debt 848.6m = Equity 744.1m / Shares 30.1m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 45.28 | EPS CAGR: 8.04% | SUE: 0.24 | # QB: 0
Revenue Correlation: 94.94 | Revenue CAGR: 6.36% | SUE: 2.24 | # QB: 4
EPS current Quarter (2026-06-30): EPS=1.11 | Chg30d=+0.31% | Revisions=+25% | Analysts=6
EPS next Quarter (2026-09-30): EPS=1.04 | Chg30d=-0.48% | Revisions=+17% | Analysts=6
EPS current Year (2026-12-31): EPS=4.37 | Chg30d=-0.19% | Revisions=+44% | GrowthEPS=-4.9% | GrowthRev=-0.9%
EPS next Year (2027-12-31): EPS=4.77 | Chg30d=-1.65% | Revisions=-25% | GrowthEPS=+9.2% | GrowthRev=+5.3%
[Analyst] Revisions Ratio: +36% (up=8, down=3)