Announcement • May 22
CONMED Corporation Announces Board and Board Committee Appointments, Effective July 1, 2026 CONMED Corporation announced the appointment of Celine Martin and Jeff Mirviss to its Board of Directors, effective July 1, 2026. Ms. Martin will serve as a member of the Audit Committee and the Strategy Committee, and Mr. Mirviss will serve as a member of the Compensation Committee and the Corporate Governance and Nominating Committee. In connection with these appointments, CONMED is increasing the size of its Board to include a total of nine directors. Over three decades at Johnson & Johnson, both in the U.S. and internationally, Ms. Martin played a vital role in advancing the ambition of J&J MedTech, developing new categories and advancing standard of care for atrial fibrillation, stroke, and minimally invasive surgery. Most recently, she served as Company Group Chairman leading the Cardiovascular & Specialty Solutions Group from 2022 to 2025. As a member of the J&J MedTech leadership team, she ran a diverse portfolio of high growth businesses including Electrophysiology, Neurovascular Intervention, Ear Nose and Throat, and Breast Aesthetics. Before that, Ms. Martin led the Ethicon Endo Surgery business where she was instrumental in establishing the Robotic and Digital Surgery portfolio foundations. Ms. Martin holds an MBA from Wake Forest University and a graduate degree in marketing from Normandy Business School. Ms. Martin also serves on the Board of Directors at H.B. Fuller. Mr. Mirviss brings more than 35 years of healthcare industry leadership experience. Most recently, he served as Executive Vice President and Global President of Peripheral Interventions at Boston Scientific from 2020 to 2025, where he led a multi-billion dollar global business focused on therapies for vascular disease and cancer. In this role, he also had leadership responsibility for the Company’s Latin America and Canada regions, as well as its Government Affairs function. Previously, Mr. Mirviss served as Senior Vice President and Global President of Peripheral Interventions from 2013 to 2020, and as Global President of Peripheral Interventions from 2011 to 2013. Prior to these roles, Mr. Mirviss held positions of increasing responsibility at Boston Scientific, including Group Vice President of Global Marketing for the Company’s Cardiology, Rhythm and Vascular businesses. Mr. Mirviss holds a B.I.S. in Marketing from the University of Minnesota and an MBA from the University of St. Thomas. Announcement • May 02
CONMED Corporation Updates Earnings Guidance for the Fiscal Year 2026 CONMED Corporation updated earnings guidance for the fiscal year 2026. Based on the Company’s first quarter performance, management is raising its outlook for full-year 2026. Full-year 2026 reported revenue is now expected to be in the range of $1.350 billion to $1.375 billion, compared to prior guidance of $1.345 billion to $1.375 billion. The updated revenue outlook reflects an estimated 40 to 50 basis points of favorable foreign exchange impact, compared to the prior assumption of 0 to 50 basis points of favorable impact. This updated guidance also reflects an estimated $14.5 million to $17.5 million in revenue from gastroenterology products, reduced from the prior guidance of $21.0 million to $25.0 million due to the divestiture of the remaining gastroenterology portfolio. Announcement • Apr 08
CONMED Corporation, Annual General Meeting, May 18, 2026 CONMED Corporation, Annual General Meeting, May 18, 2026. Announcement • Apr 03
CONMED Corporation to Report Q1, 2026 Results on Apr 29, 2026 CONMED Corporation announced that they will report Q1, 2026 results After-Market on Apr 29, 2026 Announcement • Mar 16
CONMED Corporation Announces Appointment of Andrew Moller as Interim Principal Financial Officer, Effective March 15, 2026 CONMED Corporation announced that Andrew Moller, age 51, will be appointed Interim Principal Financial Officer of the Company effective March 15, 2026. Mr. Moller joined the Company in January 2025 as Vice President, Corporate Controller and was appointed as the Company's Principal Accounting Officer in April 2025. Prior to joining the Company, he was employed by Smith & Nephew from May 2019 to December 2024, where he most recently served as Global Controller and CFO Asia-Pacific. Prior to those roles, Mr. Moller served in a variety of roles at Stanley Black & Decker from 2011 to 2019, including Director of Internal Audit. Mr. Moller is a certified public accountant, and he holds a Master of International Business Studies from the University of South Carolina and a Bachelor of Science degree in Business Administration from the College of Charleston. Announcement • Jan 29
CONMED Corporation Provides Earnings Guidance for the Full Year of 2026 CONMED Corporation provided earnings guidance for the full year of 2026. The company expects full-year 2026 reported revenue between $1.345 billion and $1.375 billion. This represents year over year organic constant currency growth of approximately 4.5% to 6% over 2025 revenue when excluding sales of gastroenterology products from both years, and approximately 0 to 50 basis points of currency tailwind. Announcement • Jan 06
CONMED Corporation to Report Q4, 2025 Results on Jan 28, 2026 CONMED Corporation announced that they will report Q4, 2025 results After-Market on Jan 28, 2026 Announcement • Dec 08
Conmed Corporation Announces Its Intention to Exit Its Gastroenterology Product Lines CONMED Corporation announced its intention to exit its gastroenterology product lines as part of its broader portfolio optimization strategy. This exit allows CONMED to fully align operations and resources within its core markets—minimally invasive, robotic, and laparoscopic surgery, smoke evacuation, and the surgical treatment of orthopedic soft tissue repair. Announcement • Sep 11
Conmed Corporation Adds Kim Kelderman to Its Board of Directors, Effective September 8, 2025 CONMED Corporation announced that Kim Kelderman will be joining its Board of Directors effective September 8, 2025. Mr. Kelderman has been President, Chief Executive Officer, and member of the Board of Bio-Techne since February 2024, having joined Bio-Techne in April 2018, as President, Diagnostics and Genomics, and having served as Chief Operating Officer from November 2023 to January 2024. Prior to Bio-Techne, Mr. Kelderman was employed at Thermo Fisher Scientific where he led three different businesses of increasing scale and complexity. Mr. Kelderman managed the Platforms and Content of the Genetic Sciences Division, where he was responsible for the Instrumentation, Software, Consumables and Assays businesses, and brands such as Applied Biosystems and legacy Affymetrix. Before joining Thermo Fisher, Mr. Kelderman served as Senior Segment Leader at Becton Dickinson, managing the global Blood Tubes "Vacutainer" business. Mr. Kelderman holds a Bachelor of Science degree from Hogeschool Heerlen of Applied Sciences in the Netherlands. Announcement • Aug 08
CONMED Corporation Declares Quarterly Cash Dividend, Payable on October 3, 2025 CONMED Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share on August 7, 2025, payable on October 3, 2025, to all shareholders of record as of September 15, 2025. Announcement • Jul 31
Conmed Corporation Revises Earnings Guidance for Full Year 2025 Conmed Corporation revised earnings guidance for full year 2025. For the period, the company now expects revenue to be between $1.356 billion and $1.378 billion, compared to the prior guidance range of between $1.350 billion and $1.378 billion. Announcement • Jul 08
CONMED Corporation Announces Resignation of Independent Director Martha Aronson from the Board of Directors, Effective as of July 7, 2025 On July 7, 2025, CONMED Corporation announced that independent director Martha Aronson resigned from the Company's Board of Directors effective as of July 7, 2025. Announcement • Jul 03
CONMED Corporation to Report Q2, 2025 Results on Jul 30, 2025 CONMED Corporation announced that they will report Q2, 2025 results After-Market on Jul 30, 2025 Announcement • May 21
CONMED Corporation Announces Quarterly Cash Dividend, Payable on July 3, 2025 CONMED Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share on May 20, 2025, payable on July 3, 2025, to all shareholders of record as of June 13, 2025. Announcement • Apr 09
CONMED Corporation, Annual General Meeting, May 20, 2025 CONMED Corporation, Annual General Meeting, May 20, 2025. Location: conmed headquarters, 11311 concept blvd, fl 33773, largo United States Announcement • Apr 03
CONMED Corporation to Report Q1, 2025 Results on Apr 30, 2025 CONMED Corporation announced that they will report Q1, 2025 results After-Market on Apr 30, 2025 Announcement • Feb 06
CONMED Corporation Provides Financial Guidance for the First Quarter and Full Year of 2025 CONMED Corporation provided financial guidance for the first quarter and full year of 2025. The company expects full-year 2025 reported revenue between $1.344 billion and $1.372 billion. This represents year over year constant currency growth of approximately 4% to 6% and approximately 100 basis points to 120 basis points of currency headwind.
Currency is also a little stronger headwind in first quarter than it is for the full year, so the company expects reported sales in first quarter to be between $310 million and $316 million. Announcement • Jan 07
CONMED Corporation to Report Q4, 2024 Results on Feb 05, 2025 CONMED Corporation announced that they will report Q4, 2024 results on Feb 05, 2025 Announcement • Dec 10
CONMED Corporation Declares Quarterly Cash Dividend, Payable on January 3, 2025 CONMED Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share on December 9, 2024, payable on January 3, 2025, to all shareholders of record as of December 20, 2024. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €69.00, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Medical Equipment industry in Germany. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €131 per share. New Risk • Nov 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Announcement • Nov 02
CONMED Corporation Revises Earnings Guidance for the Full Year 2024 CONMED Corporation revised earnings guidance for the full year 2024. Full year reported revenue is now expected to be between $1.300 billion and $1.305 billion, compared to the prior guidance range of $1.305 billion to $1.315 billion. Foreign currency is expected to have an immaterial impact on revenue for the full year. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.59 (vs US$0.52 in 3Q 2023) Third quarter 2024 results: EPS: US$1.59 (up from US$0.52 in 3Q 2023). Revenue: US$316.7m (up 4.0% from 3Q 2023). Net income: US$49.0m (up 209% from 3Q 2023). Profit margin: 16% (up from 5.2% in 3Q 2023). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Nov 01
CONMED Corporation Announces Chief Executive Officer Changes CONMED Corporation announced that Curt R. Hartman will retire as Chief Executive Officer (CEO) of the Company, effective January 1, 2025. Patrick Beyer, current Chief Operating Officer (COO) of CONMED, will succeed Mr. Hartman as CEO. Mr. Beyer joined CONMED in 2014 as President of International. In October 2020, Mr. Beyer was promoted to President of International and Global Orthopedics, where he took on the added responsibilities for the Company’s Global Orthopedics R&D and U.S. Orthopedics commercial business. In 2022, Mr. Beyer led the process of acquiring both In2Bones and BioRez. In April 2024, Mr. Beyer was promoted to the role of Chief Operating Officer (COO), in which he took on additional responsibility for leading the Company’s commercial businesses, as well as Operations, Distribution, Regulatory Affairs /Quality Assurance, and Customer Excellence. Prior to CONMED, Mr. Beyer spent 21 years at Stryker in leadership roles of increasing progression and nearly four years as CEO of ICNet International. He holds a B.A. in Economics from Kalamazoo College and an M.B. A from Western Michigan University. Mr. Beyer also completed the Advanced Management Program at Harvard University. Announcement • Oct 31
CONMED Corporation Announces Executive Changes CONMED Corporation announced that Curt R. Hartman will retire as President of the Company, effective January 1, 2025. Patrick Beyer, current Chief Operating Officer (COO) of CONMED, will succeed Mr. Hartman as President and CEO and will also be appointed as a member of the Company’s board, effective the same date. As part of the transition, Lead Independent Director Martha Goldberg Aronson will assume the position of Chair of the Board on October 31, 2024, while Mr. Hartman will continue serving as a Director through December 31, 2024. Mr. Hartman will remain with CONMED as an advisor through March of 2027. Mr. Beyer joined CONMED in 2014 as President of International. In October 2020, Mr. Beyer was promoted to President of International and Global Orthopedics, where he took on the added responsibilities for the Company’s Global Orthopedics R&D and U.S. Orthopedics commercial business. In 2022, Mr. Beyer led the process of acquiring both In2Bones and BioRez. In April 2024, Mr. Beyer was promoted to the role of Chief Operating Officer (COO), in which he took on additional responsibility for leading the Company’s commercial businesses, as well as Operations, Distribution, Regulatory Affairs /Quality Assurance, and Customer Excellence. Prior to CONMED, Mr. Beyer spent 21 years at Stryker in leadership roles of increasing progression and nearly four years as CEO of ICNet International. He holds a B.A. in Economics from Kalamazoo College and an M.B. A from Western Michigan University. Mr. Beyer also completed the Advanced Management Program at Harvard University. Announcement • Oct 04
CONMED Corporation to Report Q3, 2024 Results on Oct 30, 2024 CONMED Corporation announced that they will report Q3, 2024 results on Oct 30, 2024 Upcoming Dividend • Sep 09
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 04 October 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.9%). Declared Dividend • Aug 19
Second quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 16th September 2024 Payment date: 4th October 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 91% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 15
CONMED Corporation Announces Termination of Stanley W. (Bill) Peters as President, Advanced Surgical & Advanced Endoscopic Technologies, Effective August 31, 2024 On August 14, 2024, CONMED Corporation announced that the employment of Stanley W. (Bill) Peters, the company’s President, Advanced Surgical & Advanced Endoscopic Technologies, will terminate on August 31, 2024. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$0.97 (vs US$0.45 in 2Q 2023) Second quarter 2024 results: EPS: US$0.97 (up from US$0.45 in 2Q 2023). Revenue: US$332.1m (up 4.5% from 2Q 2023). Net income: US$30.0m (up 118% from 2Q 2023). Profit margin: 9.0% (up from 4.3% in 2Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Aug 01
CONMED Corporation Revises Earnings Guidance for the Full Year 2024 CONMED Corporation revised earnings guidance for the full year 2024. For the year, the company expects reported revenue to be between $1.305 billion and $1.315 billion, compared to the prior guidance range of between $1.330 billion and $1.355 billion. Foreign currency is expected to have a negative impact on revenue in the range of $5 million to $10 million for the full year. Announcement • Jul 09
CONMED Corporation to Report Q2, 2024 Results on Jul 31, 2024 CONMED Corporation announced that they will report Q2, 2024 results After-Market on Jul 31, 2024 Upcoming Dividend • Jun 10
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.7%). Declared Dividend • May 26
First quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 14th June 2024 Payment date: 5th July 2024 Dividend yield will be 1.1%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 103% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 23
CONMED Corporation Declares Quarterly Cash Dividend, Payable on July 5, 2024 CONMED Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share on May 22, 2024, payable on July 5, 2024, to all shareholders of record as of June 14, 2024. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$0.64 (vs US$0.06 in 1Q 2023) First quarter 2024 results: EPS: US$0.64 (up from US$0.06 in 1Q 2023). Revenue: US$312.3m (up 5.7% from 1Q 2023). Net income: US$19.7m (up US$17.9m from 1Q 2023). Profit margin: 6.3% (up from 0.6% in 1Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Apr 09
CONMED Corporation, Annual General Meeting, May 22, 2024 CONMED Corporation, Annual General Meeting, May 22, 2024, at 13:30 Eastern Daylight. Location: CONMED Headquarters 11311 Concept Blvd Largo Florida United States Agenda: To elect eight directors to serve on the Company’s Board of Directors; to hold an advisory vote on named executive officer compensation; to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and to transact such other business as may properly be brought before the meeting or any adjournment or postponement thereof. Announcement • Apr 03
CONMED Corporation to Report Q1, 2024 Results on Apr 24, 2024 CONMED Corporation announced that they will report Q1, 2024 results After-Market on Apr 24, 2024 Upcoming Dividend • Mar 07
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (1.6%). Declared Dividend • Mar 04
Fourth quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 14th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 120% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$2.10 (vs US$2.68 loss in FY 2022) Full year 2023 results: EPS: US$2.10 (up from US$2.68 loss in FY 2022). Revenue: US$1.24b (up 19% from FY 2022). Net income: US$64.5m (up US$145.0m from FY 2022). Profit margin: 5.2% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Announcement • Feb 28
CONMED Corporation Declares Quarterly Cash Dividend, Payable on April 5, 2024 CONMED Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share on February 26, 2024, payable on April 5, 2024, to all shareholders of record as of March 15, 2024. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: US$2.10 (vs US$2.68 loss in FY 2022) Full year 2023 results: EPS: US$2.10 (up from US$2.68 loss in FY 2022). Revenue: US$1.24b (up 19% from FY 2022). Net income: US$64.5m (up US$145.0m from FY 2022). Profit margin: 5.2% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year. Announcement • Feb 01
CONMED Corporation Provides Financial Guidance for the Full Year 2024 CONMED Corporation provided financial guidance for the full year 2024. The Company expects full-year 2024 reported revenue between $1.340 billion and $1.365 billion. This represents year-over-year growth of approximately 8% to 10%. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €83.50, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Medical Equipment industry in Germany. Total loss to shareholders of 9.3% over the past three years. Announcement • Dec 06
CONMED Corporation Announces Quarterly Cash Dividend, Payable on January 5, 2024 CONMED Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share on December 4, 2023, payable on January 5, 2024, to all shareholders of record as of December 18, 2023. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$0.52 (vs US$1.51 in 3Q 2022) Third quarter 2023 results: EPS: US$0.52 (down from US$1.51 in 3Q 2022). Revenue: US$304.6m (up 11% from 3Q 2022). Net income: US$15.8m (down 66% from 3Q 2022). Profit margin: 5.2% (down from 17% in 3Q 2022). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Oct 26
CONMED Corporation Updates Third Quarter Guidance for 2023 CONMED Corporation updated third quarter guidance for 2023. For the period, the Company now expects full-year revenue between $1.240 billion and $1.260 billion, compared to its prior guidance of between $1.230 billion and $1.260 billion. Announcement • Oct 05
CONMED Corporation to Report Q3, 2023 Results on Oct 25, 2023 CONMED Corporation announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.20 per share at 0.7% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 05 October 2023. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.0%). Announcement • Aug 11
CONMED Corporation Announces Quarterly Cash Dividend, Payable on October 5, 2023 CONMED Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, payable on October 5, 2023, to all shareholders of record as of September 15, 2023. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: US$0.45 (vs US$5.65 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.45 (up from US$5.65 loss in 2Q 2022). Revenue: US$317.7m (up 15% from 2Q 2022). Net income: US$13.7m (up US$182.0m from 2Q 2022). Profit margin: 4.3% (up from net loss in 2Q 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jul 27
CONMED Corporation Revises Earnings Guidance for the Full Year 2023 CONMED Corporation revised earnings guidance for the full year 2023. Based on the second quarter results, the company is raising its revenue guidance for the full year 2023 and now expects revenue between $1.230 billion and $1.260 billion, compared to its prior guidance of between $1.205 billion and $1.250 billion. Announcement • Jul 06
CONMED Corporation to Report Q2, 2023 Results on Jul 26, 2023 CONMED Corporation announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Jul 26, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.20 per share at 0.6% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 05 July 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.7%). Announcement • May 25
CONMED Corporation Announces Quarterly Cash Dividend, Payable on July 5, 2023 CONMED Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, payable on July 5, 2023, to all shareholders of record as of June 15, 2023. Recent Insider Transactions • May 03
Insider recently sold €151k worth of stock On the 28th of April, Johonna Pelletier sold around 1k shares on-market at roughly €114 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €433k. Insiders have been net sellers, collectively disposing of €1.7m more than they bought in the last 12 months. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$0.06 (vs US$0.51 in 1Q 2022) First quarter 2023 results: EPS: US$0.06 (down from US$0.51 in 1Q 2022). Revenue: US$295.5m (up 22% from 1Q 2022). Net income: US$1.82m (down 88% from 1Q 2022). Profit margin: 0.6% (down from 6.2% in 1Q 2022). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 16
Chairman of the Board recently sold €433k worth of stock On the 14th of March, Curt Hartman sold around 5k shares on-market at roughly €86.59 per share. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Curt has been a net seller over the last 12 months, reducing personal holdings by €762k. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.20 per share at 0.8% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 05 April 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 05
Full year 2022 earnings released: US$2.68 loss per share (vs US$2.15 profit in FY 2021) Full year 2022 results: US$2.68 loss per share (down from US$2.15 profit in FY 2021). Revenue: US$1.05b (up 3.4% from FY 2021). Net loss: US$80.6m (down 229% from profit in FY 2021). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Feb 03
CONMED Corporation Provides Earnings Guidance for the Full Year 2023 CONMED Corporation provided earnings guidance for the full year 2023. The Company expects full-year 2023 reported revenue between $1.170 billion and $1.220 billion, which includes expected headwind from foreign exchange between 150 basis points and 200 basis points. Announcement • Jan 10
CONMED Corporation to Report Q4, 2022 Results on Feb 02, 2023 CONMED Corporation announced that they will report Q4, 2022 results After-Market on Feb 02, 2023 Buying Opportunity • Dec 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 08
CONMED Corporation Announces Management Changes CONMED Corporation announced that effective December 6, 2022, Daniel S. Jonas, the Executive Vice President, Legal Affairs, General Counsel & Secretary of the Company, will transition from his current role and continue as a full-time employee of the Company through his planned retirement date of July 1, 2026. In connection with the transition of Mr. Jonas’ duties, Mr. Jonas entered into a letter agreement with the Company. Pursuant to the Letter Agreement, Mr. Jonas will serve as Special Counsel & Corporate Secretary commencing on the Transition Date through December 31, 2024. Beginning on January 1, 2025, Mr. Jonas will transition to the role of Corporate Secretary and continue in such position through the Retirement Date. Heather Cohen will succeed Mr. Jonas in the role of Executive Vice President and Chief Human Resources and Legal Officer. Announcement • Dec 06
CONMED Corporation Announces Quarterly Cash Dividend, Payable on January 5, 2023 CONMED Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, payable on January 5, 2023, to all shareholders of record as of December 16, 2022. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Laverne Council was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 16
CONMED Corporation Provides Revenue Guidance for the Full Year 2023 CONMED Corporation provides revenue guidance for the full year 2023. For the full-year 2023, the Company expects reported revenue between $1.170 billion and $1.230 billion. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Laverne Council was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: US$1.51 (vs US$0.51 in 3Q 2021) Third quarter 2022 results: EPS: US$1.51 (up from US$0.51 in 3Q 2021). Revenue: US$275.1m (up 11% from 3Q 2021). Net income: US$46.2m (up 209% from 3Q 2021). Profit margin: 17% (up from 6.0% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Oct 27
CONMED Corporation Revises Earnings Guidance for the Full Year 2022 CONMED Corporation revised earnings guidance for the full year 2022. The Company is narrowing its revenue guidance for the full year 2022 and now expects revenue between $1.1 billion and $1.115 billion compared to its prior guidance of between $1.095 billion and $1.140 billion. Announcement • Oct 11
CONMED Corporation to Report Q3, 2022 Results on Oct 26, 2022 CONMED Corporation announced that they will report Q3, 2022 results After-Market on Oct 26, 2022 Board Change • Oct 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Laverne Council was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 18
Chairman of the Board recently sold €329k worth of stock On the 15th of September, Curt Hartman sold around 4k shares on-market at roughly €93.98 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Curt has been a net seller over the last 12 months, reducing personal holdings by €645k. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 05 October 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.6%). Announcement • Aug 12
CONMED Corporation Announces Quarterly Cash Dividend, Payable on October 5, 2022 CONMED Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, payable on October 5, 2022 to all shareholders of record as of September 15, 2022. Announcement • Aug 11
CONMED Corporation (NYSE:CNMD) completed the acquisition of Biorez, Inc. CONMED Corporation (NYSE:CNMD) has entered into a definitive agreement to acquire Biorez, Inc. for $250 million on August 01, 2022. The consideration of $85 million will be paid at closing, subject to adjustment, and up to an additional $165 million in growth-based earnout payments over a four-year period. The transaction is expected to be financed through the company's existing credit facility. The transaction is expected to close in early August 2022. CONMED expects the acquisition to be approximately $0.10 to $0.15 dilutive to adjusted cash earnings per share in 2022 and 2023, and accretive thereafter. Sullivan & Cromwell LLP and DLA Piper LLP are acting as legal counsel for CONMED. Canaccord Genuity LLC is acting as financial advisor and Shipman & Goodwin LLP, Burns & Levinson LLP, and Latham & Watkins LLP are acting as legal counsel for Biorez, Inc. in connection with the transaction.
CONMED Corporation (NYSE:CNMD) completed the acquisition of Biorez, Inc. on August 09, 2022. Announcement • Aug 03
CONMED Corporation (NYSE:CNMD) has entered into a definitive agreement to acquire Biorez, Inc. for $250 million. CONMED Corporation (NYSE:CNMD) has entered into a definitive agreement to acquire Biorez, Inc. for $250 million on August 01, 2022. The consideration of $85 million will be paid at closing, subject to adjustment, and up to an additional $165 million in growth-based earnout payments over a four-year period. The transaction is expected to be financed through the company's existing credit facility. The transaction is expected to close in early August 2022. CONMED expects the acquisition to be approximately $0.10 to $0.15 dilutive to adjusted cash earnings per share in 2022 and 2023, and accretive thereafter. Sullivan & Cromwell LLP and DLA Piper LLP are acting as legal counsel for CONMED. Canaccord Genuity LLC is acting as financial advisor and Shipman & Goodwin LLP, Burns & Levinson LLP, and Latham & Watkins LLP are acting as legal counsel for Biorez, Inc. in connection with the transaction. Reported Earnings • Jul 28
Second quarter 2022 earnings released: US$5.65 loss per share (vs US$0.46 profit in 2Q 2021) Second quarter 2022 results: US$5.65 loss per share (down from US$0.46 profit in 2Q 2021). Revenue: US$277.2m (up 8.6% from 2Q 2021). Net loss: US$168.3m (down US$181.6m from profit in 2Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 7.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jul 28
CONMED Corporation Revises Earnings Guidance for the Full Year 2022 CONMED Corporation revised earnings guidance for the full year 2022. Due to changes in foreign exchange rates, the company is lowering its revenue guidance for the full year 2022 and now expects revenue between $1.095 billion and $1.140 billion compared to its prior guidance of between $1.105 billion and $1.150 billion. Announcement • Jul 06
CONMED Corporation to Report Q2, 2022 Results on Jul 27, 2022 CONMED Corporation announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Jul 27, 2022 Announcement • Jun 26
CONMED Corporation(NYSE:CNMD) dropped from Russell 2000 Dynamic Index CONMED Corporation(NYSE:CNMD) dropped from Russell 2000 Dynamic Index Announcement • Jun 14
CONMED Corporation (NYSE:CNMD) completed the acquisition of In2Bones Global, Inc. CONMED Corporation (NYSE:CNMD) agreed to acquire In2Bones Global, Inc. for approximately $260 million on May 4, 2022. The consideration consists of cash-free, debt-free basis, for cash consideration of $145 million at closing and up to an additional $110 million in growth-based earnout payments over a four-year period. In2Bones had 2021 revenue of $36.8 million at approximately 80% gross margins and is expected to grow revenue double digits on an ongoing basis. The transaction is not subject to a financing condition. The transaction is subject to customary closing conditions, including receipt of U.S. regulatory approval. The transaction is expected to close late in the second quarter or early in the third quarter of 2022. Based on the anticipated date of closing, CONMED expects the acquisition to add approximately $20 million to its revenue in the second half of 2022. The acquisition is expected to be slightly accretive to adjusted EBITDA in 2022, accretive in the single-digit millions in 2023, and in the double-digit millions thereafter. From an adjusted EPS perspective, the acquisition is expected to be between $0.05 and $0.10 dilutive to both the remainder of 2022 and the full year 2023, and accretive thereafter. Sullivan & Cromwell LLP and DLA Piper LLP are acting as legal counsel for CONMED. William Blair is acting as financial advisor and K&L Gates LLP and the Nilson Law Group, PLLC are acting as legal counsel for In2Bones Global, Inc.
CONMED Corporation (NYSE:CNMD) completed the acquisition of In2Bones Global, Inc. on June 13, 2022. The transaction is being financed through a combination of the net proceeds of the Company’s 2.25% convertible notes, which were issued on June 6, 2022, borrowings under the Company’s amended and restated credit facility, and cash on hand.