CONMED Corporation (CNMD) AI Stock Analysis

CONMED Corporation develops, manufactures, and distributes surgical devices and associated equipment worldwide. The company specializes in orthopedic surgery, offering soft tissue repair solutions such as the TruShot with Y-Knot All-In-One Soft Tissue Fixation System and PopLok Knotless Suture Anchors across brands including Hall and Linvatec. Its general surgery portfolio covers clinical insufflation, smoke evacuation, electrosurgical procedures, and endomechanical interventions. CONMED also provides endoscopic technologies for gastroenterology, treatments for biliary structure diseases, and cardiac monitoring products like ECG electrodes. It sells directly to hospitals, surgical centers, and healthcare institutions, and works with medical specialty distributors.

CONMED delivered a 5-year revenue CAGR of 9.8% from FY2020 to FY2025. Annual revenue rose from $1.01B in FY2021 to $1.24B in FY2023 and reached $1.37B in FY2025, representing 5.2% annual growth. Profitability has fluctuated, moving from net income of $62.5M in FY2021 to a loss of -$80.6M in FY2022, before reaching $132.4M in FY2024 and $47.1M in FY2025. Gross margin contracted to 52.8% in FY2025 from 56.1% in FY2024, while operating margin fell to 10.3%. In the latest quarter ended June 30, 2026, quarterly revenue grew 0.3% year-over-year, while quarterly earnings increased 11.2%.

As of June 30, 2026, CONMED held cash and short-term investments of $37.3M, total debt of $834.2M, and net debt of $796.9M. Shareholders' equity was $1.04B, resulting in a debt-to-equity ratio of 0.80 and a current ratio of 1.48. In FY2025, the company generated $170.7M in operating cash flow and $150.9M in free cash flow. Capital deployment during FY2025 included $19.8M in capital expenditures and $24.7M in dividends paid, while the 5-year change in share count was -8.1%.

CNMD trades at a trailing P/E of 25.3x and a forward P/E of 27.2x, compared to the median of its US-listed Healthcare peers at 24.6x and 17.3x, respectively. Its enterprise value stands at $2.17B, with an EV-to-EBITDA multiple of 11.6x, below the peer median of 12.0x. Its price-to-sales multiple of 1.0x sits below the peer median of 4.1x. Over the past year, CNMD shares gained 3.9%, lagging the S&P 500 return of 16.8%. Over a 5-year period, the stock fell 65.8%, while the S&P 500 gained 83.0%.

Wall Street analysts track CONMED with 0 Strong Buy, 0 Buy, 6 Hold, and 1 Sell ratings. The mean price target is $45.50, representing a 2.6% decline from the last close of $46.72. For the fiscal year ending December 31, 2026, analysts estimate revenue of $1.37B and EPS of $4.54, which indicates a 1.2% EPS contraction. For the next fiscal year, 7 analysts project revenue of $1.43B and EPS of $4.78. CONMED has beaten EPS estimates in 4 of the last 4 quarters, with its next earnings date scheduled for October 28, 2026.

This page is an AI-written research summary of CONMED Corporation (CNMD). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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