Update shared on 20 Dec 2025
Fair value Decreased 31%Analysts have lowered their price target on CONMED from 80.00 dollars to 55.00 dollars, citing slightly slower expected revenue growth and a higher discount rate that more than offset improved margin and valuation assumptions.
What's in the News
- CONMED will exit its gastroenterology product lines to focus resources on core areas including minimally invasive, robotic, and laparoscopic surgery, smoke evacuation, and orthopedic soft tissue repair.
- Under a revised distribution agreement with W. L. Gore & Associates, CONMED will end its exclusive U.S. and Canadian distribution of the Gore VIABIL biliary stent on January 1, 2026, earlier than previously planned.
- Following a separate agreement between Gore and Olympus, commercial support and U.S. distribution for the VIABIL biliary endoprosthesis will transition to Olympus on January 1, 2026, with CONMED maintaining full product support through December 31, 2025.
- CONMED announced a new share repurchase program authorizing buybacks of up to 150 million dollars of common stock, while its Board of Directors suspended the quarterly cash dividend in connection with extending the repurchase effort.
- The company modestly raised its full year 2025 revenue guidance to a range of 1.365 billion to 1.372 billion dollars and noted that recently announced tariffs are expected to reduce fourth quarter 2025 EPS by approximately 0.07 dollars.
Valuation Changes
- Fair Value Estimate: reduced significantly from 80 dollars to 55 dollars, reflecting a more conservative outlook on intrinsic value.
- Discount Rate: increased moderately from approximately 8.3 percent to 9.2 percent, raising the hurdle rate applied to future cash flows.
- Revenue Growth: trimmed from about 6.5 percent to 5.4 percent, indicating slightly slower expected top line expansion.
- Net Profit Margin: improved from roughly 9.8 percent to 12.3 percent, signaling stronger anticipated profitability despite softer growth.
- Future P/E Multiple: lowered materially from about 20.2 times to 11.4 times, implying a more conservative valuation framework for forward earnings.
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