(CNMD) CONMED - Overview
Stock: Orthopedic, Endoscopic, General Surgery, Electrosurgical, Monitoring
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.10% |
| Yield on Cost 5y | 0.54% |
| Yield CAGR 5y | -6.94% |
| Payout Consistency | 95.0% |
| Payout Ratio | 10.9% |
| Risk 5d forecast | |
|---|---|
| Volatility | 39.6% |
| Relative Tail Risk | -3.10% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.96 |
| Alpha | -58.09 |
| Character TTM | |
|---|---|
| Beta | 0.928 |
| Beta Downside | 0.644 |
| Drawdowns 3y | |
|---|---|
| Max DD | 71.95% |
| CAGR/Max DD | -0.34 |
Description: CNMD CONMED January 15, 2026
CONMED Corporation (NYSE:CNMD) is a U.S.–based medical-technology firm that designs, manufactures, and sells a broad suite of surgical devices for both domestic and international markets. Its portfolio spans orthopedic solutions (e.g., BioBrace, TruShot with Y-Knot, Agro Knotless anchors) marketed under the Hall, CONMED Linvatec, Concept, and Shutt brands, as well as battery-powered bone-power tools for orthopedics, arthroscopy, oral/maxillofacial, podiatry, spinal, and cardiothoracic procedures.
The company also supplies general-surgery equipment-including AirSeal insufflation systems, Buffalo Filter smoke-removal devices, and a range of endomechanical tools for minimally invasive surgery-plus electrosurgical generators, endoscopic gastroenterology products, and patient-monitoring accessories such as ECG/EEG electrodes and defibrillation pads. Distribution is a mix of direct sales to hospitals and surgery centers and indirect channels through specialty distributors. Recent sector data suggest that minimally invasive surgery volumes are growing at ~5% CAGR, driven by aging demographics and cost-containment pressures that favor shorter hospital stays.
In FY 2023 CONMED reported approximately $1.1 billion in revenue with an operating margin of 9.5%, and its backlog grew 12% year-over-year, reflecting strong demand for orthopedic and endoscopic platforms. Key economic drivers include U.S. Medicare reimbursement trends, the global shift toward outpatient surgical centers, and the company’s ongoing R&D investment (~7% of sales) aimed at expanding its minimally invasive product line. For a deeper quantitative view, the ValueRay platform offers a granular breakdown of CONMED’s valuation metrics.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 47.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.79 > 1.0 |
| NWC/Revenue: 25.27% < 20% (prev 27.69%; Δ -2.41% < -1%) |
| CFO/TA 0.07 > 3% & CFO 167.7m > Net Income 47.1m |
| Net Debt (853.8m) to EBITDA (176.8m): 4.83 < 3 |
| Current Ratio: 2.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (31.0m) vs 12m ago -0.26% < -2% |
| Gross Margin: 53.87% > 18% (prev 0.56%; Δ 5331 % > 0.5%) |
| Asset Turnover: 59.40% > 50% (prev 56.67%; Δ 2.73% > 0%) |
| Interest Coverage Ratio: 3.30 > 6 (EBITDA TTM 176.8m / Interest Expense TTM 31.1m) |
Altman Z'' 2.08
| A: 0.15 (Total Current Assets 662.2m - Total Current Liabilities 314.7m) / Total Assets 2.32b |
| B: 0.25 (Retained Earnings 572.0m / Total Assets 2.32b) |
| C: 0.04 (EBIT TTM 102.6m / Avg Total Assets 2.31b) |
| D: 0.0 (Book Value of Equity 0.0 / Total Liabilities 1.31b) |
| Altman-Z'' Score: 2.08 = BBB |
What is the price of CNMD shares?
Over the past week, the price has changed by +8.15%, over one month by -4.53%, over three months by -6.08% and over the past year by -37.69%.
Is CNMD a buy, sell or hold?
- StrongBuy: 0
- Buy: 2
- Hold: 4
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CNMD price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 48.6 | 17.1% |
| Analysts Target Price | 48.6 | 17.1% |
| ValueRay Target Price | 32.1 | -22.7% |
CNMD Fundamental Data Overview February 01, 2026
P/E Forward = 27.027
P/S = 0.8648
P/B = 1.1459
P/EG = 5.29
Revenue TTM = 1.37b USD
EBIT TTM = 102.6m USD
EBITDA TTM = 176.8m USD
Long Term Debt = 853.0m USD (from longTermDebt, two quarters ago)
Short Term Debt = 746.0k USD (from shortTermDebt, two quarters ago)
Debt = 853.8m USD (from shortLongTermDebtTotal, two quarters ago)
Net Debt = 853.8m USD (using Total Debt 853.8m, CCE unavailable)
Enterprise Value = 2.04b USD (1.19b + Debt 853.8m - (null CCE))
Interest Coverage Ratio = 3.30 (Ebit TTM 102.6m / Interest Expense TTM 31.1m)
EV/FCF = 13.71x (Enterprise Value 2.04b / FCF TTM 149.0m)
FCF Yield = 7.29% (FCF TTM 149.0m / Enterprise Value 2.04b)
FCF Margin = 10.84% (FCF TTM 149.0m / Revenue TTM 1.37b)
Net Margin = 3.42% (Net Income TTM 47.1m / Revenue TTM 1.37b)
Gross Margin = 53.87% ((Revenue TTM 1.37b - Cost of Revenue TTM 634.1m) / Revenue TTM)
Gross Margin QoQ = 55.85% (prev 49.16%)
Tobins Q-Ratio = 0.88 (Enterprise Value 2.04b / Total Assets 2.32b)
Interest Expense / Debt = 0.86% (Interest Expense 7.37m / Debt 853.8m)
Taxrate = 42.78% (12.5m / 29.3m)
NOPAT = 58.7m (EBIT 102.6m * (1 - 42.78%))
Current Ratio = 2.10 (Total Current Assets 662.2m / Total Current Liabilities 314.7m)
Debt / Equity = 0.85 (Debt 853.8m / totalStockholderEquity, two quarters ago 1.01b)
Debt / EBITDA = 4.83 (Net Debt 853.8m / EBITDA 176.8m)
Debt / FCF = 5.73 (Net Debt 853.8m / FCF TTM 149.0m)
Total Stockholder Equity = 987.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.03% (Net Income 47.1m / Total Assets 2.32b)
RoE = 4.76% (Net Income TTM 47.1m / Total Stockholder Equity 987.9m)
RoCE = 5.57% (EBIT 102.6m / Capital Employed (Equity 987.9m + L.T.Debt 853.0m))
RoIC = 3.13% (NOPAT 58.7m / Invested Capital 1.87b)
WACC = 5.64% (E(1.19b)/V(2.04b) * Re(9.34%) + D(853.8m)/V(2.04b) * Rd(0.86%) * (1-Tc(0.43)))
Discount Rate = 9.34% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.75%
[DCF Debug] Terminal Value 86.76% ; FCFF base≈155.8m ; Y1≈162.7m ; Y5≈187.9m
Fair Price DCF = 152.5 (EV 5.58b - Net Debt 853.8m = Equity 4.72b / Shares 31.0m; r=5.90% [WACC]; 5y FCF grow 4.74% → 2.90% )
EPS Correlation: 64.71 | EPS CAGR: 20.98% | SUE: 0.78 | # QB: 0
Revenue Correlation: 88.82 | Revenue CAGR: 12.20% | SUE: 1.46 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.82 | Chg30d=-0.112 | Revisions Net=-1 | Analysts=4
EPS current Year (2026-12-31): EPS=4.36 | Chg30d=-0.020 | Revisions Net=+0 | Growth EPS=-5.0% | Growth Revenue=-1.1%
EPS next Year (2027-12-31): EPS=4.96 | Chg30d=-0.069 | Revisions Net=-2 | Growth EPS=+13.7% | Growth Revenue=+6.3%