Conmed (CNMD)
Market Price (12/28/2025): $40.72 | Market Cap: $1.3 BilSector: Health Care | Industry: Health Care Equipment
Conmed (CNMD)
Market Price (12/28/2025): $40.72Market Cap: $1.3 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, FCF Yield is 12% | Weak multi-year price returns2Y Excs Rtn is -109%, 3Y Excs Rtn is -132% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 65% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Key risksCNMD key risks include [1] a direct competitive threat to its high-margin AirSeal product line from Intuitive Surgical's new da Vinci 5 system and [2] a high level of indebtedness restricting its financial flexibility. | |
| Low stock price volatilityVol 12M is 43% | ||
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, and Targeted Therapies. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, FCF Yield is 12% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, and Targeted Therapies. |
| Weak multi-year price returns2Y Excs Rtn is -109%, 3Y Excs Rtn is -132% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 65% |
| Key risksCNMD key risks include [1] a direct competitive threat to its high-margin AirSeal product line from Intuitive Surgical's new da Vinci 5 system and [2] a high level of indebtedness restricting its financial flexibility. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
Here are the key points for the movement in Conmed (CNMD) stock:
<b>1. Conmed faced a lowered revenue and adjusted EPS outlook for 2025, which fell short of consensus expectations following its Q4 2024 results.</b><br><br>
<b>2. Persistent supply-chain issues, especially within the Orthopedic segment (sports medicine, foot and ankle businesses), continued to impact the company's performance throughout 2024 and into 2025.</b><br><br>
<b>3. Concerns arose about a slower long-term growth trajectory, with key product lines like AirSeal and Buffalo Filter experiencing reduced growth due to increased competition.</b><br><br>
<b>4. The company announced plans to exit its gastroenterology product lines in December 2025, a strategic shift that, despite aiming for improved gross margins, led to investor concerns over the loss of a significant revenue stream.</b><br><br>
<b>5. Potential impacts from new and threatened tariffs on goods, particularly those imported from Mexico, were expected to negatively affect earnings and profit margins in 2025.</b>
Show moreStock Movement Drivers
Fundamental Drivers
The -11.3% change in CNMD stock from 9/27/2025 to 12/27/2025 was primarily driven by a -42.8% change in the company's Net Income Margin (%).| 9272025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 46.00 | 40.80 | -11.30% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1326.25 | 1347.47 | 1.60% |
| Net Income Margin (%) | 8.31% | 4.75% | -42.77% |
| P/E Multiple | 12.92 | 19.71 | 52.58% |
| Shares Outstanding (Mil) | 30.95 | 30.95 | -0.02% |
| Cumulative Contribution | -11.30% |
Market Drivers
9/27/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| CNMD | -11.3% | |
| Market (SPY) | 4.3% | 23.7% |
| Sector (XLV) | 15.2% | 40.0% |
Fundamental Drivers
The -21.5% change in CNMD stock from 6/28/2025 to 12/27/2025 was primarily driven by a -47.3% change in the company's Net Income Margin (%).| 6282025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 51.97 | 40.80 | -21.50% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1316.00 | 1347.47 | 2.39% |
| Net Income Margin (%) | 9.02% | 4.75% | -47.31% |
| P/E Multiple | 13.56 | 19.71 | 45.41% |
| Shares Outstanding (Mil) | 30.97 | 30.95 | 0.06% |
| Cumulative Contribution | -21.50% |
Market Drivers
6/28/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| CNMD | -21.5% | |
| Market (SPY) | 12.6% | 27.4% |
| Sector (XLV) | 17.0% | 45.5% |
Fundamental Drivers
The -41.6% change in CNMD stock from 12/27/2024 to 12/27/2025 was primarily driven by a -53.5% change in the company's Net Income Margin (%).| 12272024 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 69.86 | 40.80 | -41.60% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1288.12 | 1347.47 | 4.61% |
| Net Income Margin (%) | 10.23% | 4.75% | -53.51% |
| P/E Multiple | 16.36 | 19.71 | 20.47% |
| Shares Outstanding (Mil) | 30.86 | 30.95 | -0.32% |
| Cumulative Contribution | -41.60% |
Market Drivers
12/27/2024 to 12/27/2025| Return | Correlation | |
|---|---|---|
| CNMD | -41.6% | |
| Market (SPY) | 17.0% | 41.9% |
| Sector (XLV) | 13.8% | 40.4% |
Fundamental Drivers
The -50.9% change in CNMD stock from 12/28/2022 to 12/27/2025 was primarily driven by a -60.4% change in the company's P/S Multiple.| 12282022 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 83.09 | 40.80 | -50.90% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1068.58 | 1347.47 | 26.10% |
| P/S Multiple | 2.37 | 0.94 | -60.45% |
| Shares Outstanding (Mil) | 30.47 | 30.95 | -1.58% |
| Cumulative Contribution | -50.91% |
Market Drivers
12/28/2023 to 12/27/2025| Return | Correlation | |
|---|---|---|
| CNMD | -62.7% | |
| Market (SPY) | 48.0% | 31.5% |
| Sector (XLV) | 17.9% | 33.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CNMD Return | 1% | 27% | -37% | 24% | -37% | -41% | -62% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| CNMD Win Rate | 42% | 50% | 42% | 58% | 25% | 33% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| CNMD Max Drawdown | -64% | -1% | -48% | 0% | -43% | -42% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See CNMD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | CNMD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -53.6% | -25.4% |
| % Gain to Breakeven | 115.6% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -64.5% | -33.9% |
| % Gain to Breakeven | 181.4% | 51.3% |
| Time to Breakeven | 275 days | 148 days |
| 2018 Correction | ||
| % Loss | -29.7% | -19.8% |
| % Gain to Breakeven | 42.2% | 24.7% |
| Time to Breakeven | 87 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -64.6% | -56.8% |
| % Gain to Breakeven | 182.4% | 131.3% |
| Time to Breakeven | 1,471 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Conmed's stock fell -53.6% during the 2022 Inflation Shock from a high on 11/9/2021. A -53.6% loss requires a 115.6% gain to breakeven.
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AI Analysis | Feedback
Stryker for sports medicine and minimally invasive surgical tools.
Smith & Nephew, specializing in arthroscopy and advanced energy surgical devices.
AI Analysis | Feedback
```html- Orthopedic Implants and Devices: Products designed for minimally invasive arthroscopic surgery, including implants for joint repair and reconstruction in sports medicine.
- Powered Surgical Instruments: A comprehensive line of handpieces, burrs, and saws utilized across various surgical disciplines, particularly in orthopedics and neurosurgery.
- Advanced Energy Products: Electrosurgical generators, electrodes, and vessel sealing systems used for precise cutting, coagulation, and tissue sealing during surgical procedures.
- Endoscopic Visualization and Access: Integrated systems comprising cameras, scopes, monitors, and instruments for diagnostic and therapeutic applications in endoscopy, gastroenterology, and pulmonology.
- Surgical Essentials and Patient Care: Supporting operating room products such as smoke evacuation systems, patient positioning devices, and surgical lights.
AI Analysis | Feedback
Conmed (CNMD) sells primarily to other companies, operating within the business-to-business (B2B) sector. Its customers are healthcare institutions and intermediaries in the healthcare supply chain.
According to Conmed's latest annual report (10-K filing), no single customer accounted for more than 10% of its consolidated net sales during the past three fiscal years (2021, 2022, or 2023). This indicates a diversified customer base, meaning there are no individually identifiable "major customers" that significantly dominate Conmed's revenue stream.
However, Conmed's customer base consists of various categories of organizations within the healthcare industry. While none of these specific entities are "major" in terms of revenue concentration for Conmed, they represent the types of customer companies it serves globally:
- Healthcare Providers (Hospitals and Ambulatory Surgical Centers): These are the primary end-users of Conmed's surgical devices and equipment. Conmed sells to a vast number of hospitals, hospital networks, and ambulatory surgical centers worldwide. While Conmed does not name individual major hospital systems as dominant customers, examples of large publicly traded healthcare systems in the U.S. that would be among Conmed's extensive customer base include:
- HCA Healthcare (NYSE: HCA)
- Universal Health Services (NYSE: UHS)
- Tenet Healthcare (NYSE: THC)
- Group Purchasing Organizations (GPOs): Conmed often establishes contracts with GPOs, which act as purchasing agents for their member healthcare providers (hospitals, ASCs, etc.). While GPOs are not direct end-users, they facilitate sales to their members and are significant partners in the sales process. An example of a publicly traded GPO is:
- Premier Inc. (NASDAQ: PINC)
- Medical Device Distributors: Particularly for international sales, Conmed utilizes third-party distributors who then resell Conmed's products to healthcare providers. These distributors are direct customers of Conmed. Examples of large publicly traded medical distributors that Conmed likely partners with include:
- Cardinal Health (NYSE: CAH)
- McKesson Corporation (NYSE: MCK)
- Owens & Minor (NYSE: OMI)
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Patrick J. Beyer, President and Chief Executive Officer
Mr. Beyer was appointed President and Chief Executive Officer of CONMED in January 2025. Previously, he served as the company's Chief Operating Officer from April 2024 to December 2024, President of International and Global Orthopedics from October 2020 to April 2024, and President of CONMED International from December 2014 to October 2020. Before joining CONMED, Mr. Beyer was the Chief Executive Officer of ICNet, a private infection control software company, from 2010 until its sale in 2014.
Todd W. Garner, Executive Vice President, Finance and Chief Financial Officer
Mr. Garner joined CONMED as Executive Vice President and Chief Financial Officer in January 2018. Prior to CONMED, he served as Vice President - Investor Relations for C.R. Bard, Inc. from 2011 until December 2017. His previous roles at C.R. Bard, Inc. included Vice President, Controller (Division Chief Financial Officer) for its Medical division from 2007 to 2011, Director of Financial Reporting from 2005 to 2007, and Controller of the Reynosa Operations from 2003 to 2005. Before C.R. Bard, Inc., Mr. Garner was the acting CFO and Controller at Echopass Corporation (currently Genesys Corporation) from 2000 to 2003, Controller and Value Planning Manager at Futura Industries, Corp. from 1997 to 2000, Accounting Manager at Excel Communications in 1997, and Accounting Coordinator at Verizon from 1995 to 1996. He began his career as a senior auditor at Arthur Andersen LLP from 1992 to 1995.
Peter K. Shagory, Executive Vice President, Strategy and Corporate Development
Mr. Shagory serves as the Executive Vice President, Strategy and Corporate Development for CONMED.
Richard Glaze, Chief Information Officer
Mr. Glaze joined CONMED as Chief Information Officer in November 2023. Before CONMED, he was IT Vice President, North America at Teva Pharmaceuticals from August 2020 to November 2023. Prior to that, he served as IT Vice President, North America at SUN Pharmaceuticals from 2016 to 2020, and IT Vice President at Ikaria (now Mallinckrodt Pharmaceuticals) from 2013 to 2016.
Hollie K. Foust, Executive Vice President, General Counsel and Corporate Secretary
Ms. Foust holds the position of Executive Vice President, General Counsel and Corporate Secretary at CONMED.
AI Analysis | Feedback
Conmed (NYSE: CNMD) faces several key risks to its business operations and financial performance.-
Competitive Pressure, particularly from Intuitive Surgical's da Vinci 5 System: Conmed's high-margin AirSeal product line faces a significant threat from Intuitive Surgical's da Vinci 5 robotic system, which now includes a rival insufflator as a standard feature. This competition is a key concern and has been linked to a notable increase in bearish investor sentiment, as a significant portion of AirSeal's revenue is derived from procedures using Intuitive Surgical's platforms.
-
Supply Chain Disruptions: The company is exposed to risks related to its supply chain, including reliance on third-party sterilization services and raw material suppliers. Disruptions in the supply chain, such as suppliers closing down, have historically impacted production and sales. Conmed has engaged consulting firms to mitigate these effects and improve manufacturing operations.
-
High Indebtedness: Conmed carries a significant amount of debt, reflected in a high net debt to EBITDA ratio. This level of financial leverage can restrict operational flexibility and increase the company's financial vulnerability.
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The increasing proliferation and sophistication of integrated surgical robotic platforms from major medical technology companies present a clear emerging threat. As these platforms become more advanced, offer enhanced precision, and aim for broader adoption across various surgical specialties, hospitals and surgeons may increasingly favor complete robotic ecosystems over traditional surgical approaches or less integrated instrument solutions. Companies like Medtronic (Hugo RAS), Stryker (Mako), Zimmer Biomet (Rosa), and Johnson & Johnson are investing heavily in these comprehensive robotic systems, which often come with proprietary or preferred instrument sets tightly coupled with the robot's design and functionality. This trend could marginalize companies like Conmed that primarily offer standalone or less integrated surgical instruments and equipment, potentially shifting market share and procedural preference towards the vendors of these full robotic systems.
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Conmed's Addressable Markets for Main Products and Services
Conmed (symbol: CNMD) operates in several key medical technology markets globally. The addressable market sizes for their main products and services are detailed below:- Orthopedics (including Sports Medicine and related devices): The global sports medicine market was estimated to be between USD 4.4 billion and USD 4.6 billion in 2021. More recent estimates place the global sports medicine market at USD 5.9 billion in 2023, with projections to reach USD 13.2 billion by 2033, growing at a CAGR of 8.8% during 2024-2033. Another source states a global sports medicine market size of USD 5.91 billion in 2024, expected to reach approximately USD 13.03 billion by 2034, with a CAGR of 8.23% from 2025 to 2034. North America dominated this market with a 47.0% revenue share in 2023. The global orthopedic devices market size was valued at USD 53.54 billion in 2024 and is projected to grow to USD 76.90 billion by 2033, exhibiting a CAGR of 4.03% from 2025 to 2033.
- Surgical Visualization: The global market for high-definition surgical visualization systems was estimated to be between USD 1.8 billion and USD 2.0 billion in 2021. More broadly, the global surgical visualization products market was valued at USD 3.03 billion in 2024 and is expected to reach USD 8.38 billion by 2032, with a CAGR of 13.55%. The surgical visualization system market size was valued at USD 2.56 billion in 2023 and is projected to reach USD 5.71 billion by 2032, growing at a CAGR of 9.30% from 2024-2032. The Asia-Pacific surgical visualization products market is poised for significant growth, at a CAGR of around 24% during 2025–2032.
- Advanced Energy / Electrosurgery: The global electrosurgery devices market was valued at USD 2,591 million in 2017 and was projected to reach USD 3,784 million by 2025, with a CAGR of 4.8% from 2018 to 2025. More recent estimates show the global electrosurgical devices market size at USD 6.92 billion in 2024, projected to reach USD 9.25 billion by 2033, growing at a CAGR of 3.2% from 2025 to 2033. Another report states the market size reached USD 7.05 billion in 2025 and is forecast to attain USD 9.51 billion by 2030, advancing at a 6.18% CAGR. The global electrosurgery market was valued at US$6.5 billion in 2023, stood at US$6.9 billion in 2024, and is projected to reach US$9.4 billion by 2029, growing at a CAGR of 6.4% from 2024 to 2029. North America dominated the electrosurgical devices market with the largest revenue share of 43.36% in 2024 and accounted for a significant share of the global landscape in 2023. The U.S. electrosurgical devices market accounted for the largest market revenue share in North America in 2024. The Asia Pacific electrosurgery market is projected to register a CAGR of 6.4% during the forecast period. The global advanced bipolar direct energy devices market size was valued at USD 3.21 billion in 2023 and is projected to grow at a CAGR of 4.8% from 2024 to 2030. North America led the global advanced bipolar direct energy devices market with the largest revenue share of 43.9% in 2023. The advanced bipolar direct energy devices market in the U.S. dominated the North America market with a 71.7% share in 2023. The Asia Pacific advanced bipolar direct energy devices market is anticipated to witness significant growth at a CAGR of 7.8% in the forecast period.
- Gastrointestinal (GI) Endoscopy Devices: The global market for GI Endoscopy Devices was estimated at USD 30.1 billion in 2020 and was projected to reach USD 41.2 billion by 2027, growing at a CAGR of 4.6% during 2020-2027. The global gastrointestinal endoscopic devices market size was estimated at USD 11.27 billion in 2024 and is projected to grow at a CAGR of 5.1% from 2025 to 2030. Another source indicates the global gastrointestinal endoscopic devices market was valued at US$ 5.6 billion in 2015 and projected to attain US$ 8.5 billion by the end of 2021. The broader gastrointestinal products market is valued at an estimated USD 14.7 billion in 2024 and is projected to reach USD 19.7 billion by 2029, at a CAGR of 6.1%. North America dominated the gastrointestinal endoscopic devices market with a 39.5% share in 2024 and accounted for more than 30% share in 2015. The U.S. GI Endoscopy Devices market was estimated at USD 8.2 billion in 2020. China is forecast to reach USD 8.3 billion by 2027, trailing a CAGR of 7.1% over 2020-2027. Japan and Canada are forecast to grow at 2.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR. The market in Asia-Pacific is forecast to reach USD 5.5 billion by 2027. The gastrointestinal endoscopic devices market in India is projected to grow at the fastest rate of 5.6% in the Asia Pacific market over the forecast period. Latin America will expand at a 5.3% CAGR through the 2020-2027 analysis period. The overall endoscopy devices market is projected to reach US$16.754 billion by 2026 from US$11.309 billion in 2019, growing at a CAGR of 5.78%.
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Here are the expected drivers of future revenue growth for Conmed (CNMD) over the next 2-3 years:
- Continued Growth of Key Product Platforms: Conmed anticipates ongoing revenue expansion driven by the strong performance and increasing adoption of its core product platforms, particularly the AirSeal platform in general surgery and the BioBrace system in orthopedics. The Buffalo Filter product line is also expected to contribute significantly to growth.
- International Market Expansion: Solid growth in international sales is expected to be a notable driver of overall revenue.
- Orthopedic Supply Chain Enhancements: Improvements in the orthopedic supply chain, including better procurement, planning, and production, are projected to support incremental sales growth and address previous challenges, thereby contributing to revenue increases.
- Strategic Portfolio Focus and Investments: Management is actively reallocating resources and making strategic investments in core growth platforms, such as minimally invasive surgery and key orthopedic franchises, which are expected to drive durable revenue gains.
- Launch and Adoption of New Products/Devices: The full market release and expanding clinical adoption of recently launched devices, such as the BioBrace RC device, are anticipated to contribute to revenue growth.
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Share Repurchases
- CONMED's Board of Directors authorized a new $150.0 million share repurchase program, effective October 31, 2025, which replaced a prior $200.0 million program with $37.4 million remaining available.
- The company expects to repurchase at least $25.0 million in shares annually, starting in 2026.
- The decision to implement the new share repurchase program in late 2025 was accompanied by the suspension of CONMED's quarterly cash dividend.
Share Issuance
- CONMED's shares outstanding have seen a slight decrease, with the number of shares decreasing by -0.29% in one year, as of November 2025, rather than significant issuances.
Outbound Investments
- CONMED completed a Merger/Acquisition with BioRez on August 9, 2022.
- The company's strategy involves pursuing strategic acquisitions of companies with proven technologies and established brand names to achieve sales, marketing, and manufacturing synergies.
Capital Expenditures
- For the third quarter of 2025, CONMED's capital expenditures totaled $5.2 million.
- In 2025, CONMED is focused on strengthening its supply chain and optimizing inventory, indicating a potential primary focus for capital expenditures in these areas.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to CNMD. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 21.4% | 21.4% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -7.4% | -7.4% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 18.0% | 18.0% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.9% | 3.9% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.2% | 12.2% | -5.1% |
| 12312024 | CNMD | Conmed | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -20.4% | -39.7% | -42.4% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Conmed
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 59.48 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.3% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 13.2% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 16.5% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 14.6% |
| FCF/Rev 3Y Avg | 13.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 158.8 |
| P/S | 2.7 |
| P/EBIT | 21.2 |
| P/E | 33.0 |
| P/CFO | 16.2 |
| Total Yield | 5.2% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 6.2% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.4% |
| 3M Rtn | 4.9% |
| 6M Rtn | 10.9% |
| 12M Rtn | 11.8% |
| 3Y Rtn | 76.2% |
| 1M Excs Rtn | -3.0% |
| 3M Excs Rtn | 0.6% |
| 6M Excs Rtn | -1.3% |
| 12M Excs Rtn | -4.6% |
| 3Y Excs Rtn | -6.2% |
Comparison Analyses
Price Behavior
| Market Price | $40.80 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -44.3% | |
| 50 Days | 200 Days | |
| DMA Price | $43.19 | $50.59 |
| DMA Trend | down | down |
| Distance from DMA | -5.5% | -19.4% |
| 3M | 1YR | |
| Volatility | 39.2% | 43.5% |
| Downside Capture | 42.38 | 118.81 |
| Upside Capture | -23.88 | 47.12 |
| Correlation (SPY) | 23.5% | 41.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.31 | 0.98 | 1.14 | 1.18 | 0.94 | 0.99 |
| Up Beta | 1.69 | 2.01 | 2.32 | 2.30 | 1.16 | 1.16 |
| Down Beta | -1.66 | 1.78 | 1.23 | 0.99 | 0.70 | 0.81 |
| Up Capture | 10% | 6% | 4% | 30% | 41% | 45% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 8 | 18 | 26 | 59 | 112 | 371 |
| Down Capture | 33% | 64% | 137% | 141% | 111% | 104% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 11 | 23 | 36 | 66 | 136 | 379 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of CNMD With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| CNMD | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -39.9% | 15.1% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 43.2% | 17.2% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | -1.06 | 0.65 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 40.6% | 42.0% | -4.9% | 11.0% | 42.0% | 16.6% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of CNMD With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| CNMD | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -17.4% | 8.4% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 38.3% | 14.5% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | -0.39 | 0.40 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 41.9% | 48.2% | 7.2% | 13.4% | 45.7% | 22.2% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of CNMD With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| CNMD | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 0.7% | 9.9% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 38.7% | 16.6% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.14 | 0.49 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 48.2% | 54.1% | 2.9% | 21.5% | 52.2% | 15.1% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | -0.5% | -2.0% | -8.7% |
| 7/30/2025 | 2.0% | 1.8% | 7.2% |
| 4/30/2025 | 16.5% | 14.1% | 15.6% |
| 2/5/2025 | -9.0% | -15.5% | -15.2% |
| 10/30/2024 | 4.6% | 15.9% | 13.5% |
| 7/31/2024 | -5.4% | -3.8% | 7.1% |
| 4/24/2024 | -11.6% | -2.4% | 4.4% |
| 1/31/2024 | -12.4% | -12.8% | -16.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 12 |
| # Negative | 14 | 15 | 12 |
| Median Positive | 4.4% | 8.9% | 7.1% |
| Median Negative | -4.2% | -6.0% | -8.8% |
| Max Positive | 16.5% | 15.9% | 31.9% |
| Max Negative | -12.4% | -19.9% | -20.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 7312025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2182025 | 10-K 12/31/2024 |
| 9302024 | 10312024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 4252024 | 10-Q 3/31/2024 |
| 12312023 | 2282024 | 10-K 12/31/2023 |
| 9302023 | 10262023 | 10-Q 9/30/2023 |
| 6302023 | 7272023 | 10-Q 6/30/2023 |
| 3312023 | 4272023 | 10-Q 3/31/2023 |
| 12312022 | 2212023 | 10-K 12/31/2022 |
| 9302022 | 10272022 | 10-Q 9/30/2022 |
| 6302022 | 7282022 | 10-Q 6/30/2022 |
| 3312022 | 5052022 | 10-Q 3/31/2022 |
| 12312021 | 2222022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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