NasdaqGS:CNMD

Stock Analysis Report

Executive Summary

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide.

Snowflake

Fundamentals

Moderate growth potential with poor track record.


Similar Companies

Share Price & News

How has CONMED's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.2%

NasdaqGS:CNMD

-0.9%

US Medical Equipment

1.3%

US Market


1 Year Return

25.2%

NasdaqGS:CNMD

9.1%

US Medical Equipment

2.0%

US Market

CNMD outperformed the Medical Equipment industry which returned 8.7% over the past year.

CNMD outperformed the Market in United States of America which returned 1.7% over the past year.


Share holder returns

CNMDIndustryMarket
7 Day2.2%-0.9%1.3%
30 Day6.4%0.7%3.9%
90 Day21.6%4.4%3.4%
1 Year26.5%25.2%10.0%9.1%4.2%2.0%
3 Year169.5%159.2%70.7%65.5%47.2%37.6%
5 Year189.6%168.7%130.7%104.3%60.5%42.9%

Price Volatility Vs. Market

How volatile is CONMED's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CONMED undervalued based on future cash flows and its price relative to the stock market?

17%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

CONMED's share price is below the future cash flow value, but not at a moderate discount (< 20%).

CONMED's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

CONMED is overvalued based on earnings compared to the US Medical Equipment industry average.

CONMED is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

CONMED is poor value based on expected growth next year.


Price Based on Value of Assets

CONMED is overvalued based on assets compared to the US Medical Equipment industry average.


Next Steps

Future Growth

How is CONMED expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

49.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

CONMED's revenue is expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).

CONMED's earnings are expected to grow significantly at over 20% yearly.

CONMED's revenue growth is positive but not above the United States of America market average.

CONMED's earnings growth is expected to exceed the United States of America market average.

CONMED's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

CONMED is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has CONMED performed over the past 5 years?

12.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

CONMED's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.

CONMED's 1-year earnings growth is negative, it can't be compared to the 5-year average.

CONMED's 1-year earnings growth is negative, it can't be compared to the US Medical Equipment industry average.


Return on Equity

CONMED has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

CONMED used its assets less efficiently than the US Medical Equipment industry average last year based on Return on Assets.


Return on Capital Employed

CONMED's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is CONMED's financial position?


Financial Position Analysis

CONMED is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

CONMED's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

CONMED's level of debt (116.1%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (40.9% vs 116.1% today).

Debt is not well covered by operating cash flow (5.8%, less than 20% of total debt).

Interest payments on debt are not well covered by earnings (EBIT is 2.6x annual interest expense, ideally 3x coverage).


Balance Sheet

Low level of unsold assets.

Debt is not covered by short term assets, assets are 0.5x debt.


Next Steps

Dividend

What is CONMED's current dividend yield, its reliability and sustainability?

0.79%

Expected Dividend Yield


Dividend Yield and Payments Analysis

CONMED's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).

CONMED's dividend is below the markets top 25% of dividend payers in United States of America (3.67%).

CONMED is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.

CONMED is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of CONMED's dividends as it is not paying a notable one for United States of America.


Future Payout to Shareholders

No need to calculate the sustainability of CONMED's dividends in 3 years as they are not expected to pay a notable one for United States of America.


Next Steps

Management

What is the CEO of CONMED's salary, the management and board of directors tenure and is there insider trading?

4.7yrs

Average management tenure


CEO

Curt Hartman (55yo)

4.8yrs

Tenure

US$4,592,376

Compensation

Mr. Curt R. Hartman has been the Chief Executive Officer and President of CONMED Corporation since November 2014. Mr. Hartman served as an Interim Chief Executive Officer at CONMED Corporation from July 20 ...


CEO Compensation Analysis

Curt's remuneration is about average for companies of similar size in United States of America.

Curt's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

4.7yrs

Average Tenure

51.5yo

Average Age

The tenure for the CONMED management team is about average.


Board Age and Tenure

5.3yrs

Average Tenure

60yo

Average Age

The tenure for the CONMED board of directors is about average.


Insider Trading

CONMED individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$50,88028 Aug 19
Stanley Peters
EntityIndividual
Role
Other Key Executive
VP & GM of U.S. Advanced Surgical
Shares500
Max PriceUS$101.76
SellUS$788,67412 Aug 19
Terence Berge
EntityIndividual
Shares8,300
Max PriceUS$95.02
SellUS$43,00312 Aug 19
Johonna Pelletier
EntityIndividual
Shares453
Max PriceUS$94.94
SellUS$230,80307 Aug 19
Daniel Jonas
EntityIndividual
Role
Chief Legal Officer
Executive VP of Legal Affairs
Shares2,506
Max PriceUS$92.10
SellUS$744,46818 Jun 19
Dirk Kuyper
EntityIndividual
Shares8,970
Max PriceUS$83.00
SellUS$22,17811 Jun 19
Terence Berge
EntityIndividual
Shares265
Max PriceUS$83.69
SellUS$594,56529 May 19
Terence Berge
EntityIndividual
Shares7,161
Max PriceUS$83.19
SellUS$202,73030 Apr 19
Daniel Jonas
EntityIndividual
Role
Chief Legal Officer
Executive VP of Legal Affairs
Shares2,518
Max PriceUS$80.51
SellUS$123,89729 Apr 19
Stanley Peters
EntityIndividual
Role
Other Key Executive
VP & GM of U.S. Advanced Surgical
Shares1,511
Max PriceUS$82.00
BuyUS$61,74208 Nov 18
Heather Cohen
EntityIndividual
Role
Head of Human Resources
Executive Vice President of Human Resources
Shares900
Max PriceUS$68.60

Ownership Breakdown


Management Team

  • Dave Murray (71yo)

    President of ConMed Electrosurgery

    • Tenure: 15.2yrs
    • Compensation: US$572.33k
  • Pete Shagory (50yo)

    Executive Vice President of Strategy & Corporate Development

    • Tenure: 4.3yrs
  • Daniel Jonas (55yo)

    Executive VP of Legal Affairs

    • Tenure: 6.5yrs
    • Compensation: US$1.26m
  • Heather Cohen (46yo)

    Executive Vice President of Human Resources

    • Tenure: 6.5yrs
  • Curt Hartman (55yo)

    CEO, President & Director

    • Tenure: 4.8yrs
    • Compensation: US$4.59m
  • Todd Garner (50yo)

    Executive VP & CFO

    • Tenure: 1.7yrs
    • Compensation: US$1.85m
  • Pat Beyer (53yo)

    President of CONMED International

    • Tenure: 4.8yrs
    • Compensation: US$1.63m
  • Bill Peters (44yo)

    VP & GM of U.S. Advanced Surgical

    • Tenure: 4.7yrs
    • Compensation: US$1.22m
  • Wilf Ruiz-Caban (54yo)

    Executive Vice President

    • Tenure: 3.6yrs
  • Nate Folkert (44yo)

    VP & GM of U.S. Orthopedics

    • Tenure: 4yrs
    • Compensation: US$1.15m

Board Members

  • John Workman (67yo)

    Independent Director

    • Tenure: 4.2yrs
    • Compensation: US$224.95k
  • David Bronson (66yo)

    Independent Director

    • Tenure: 4.2yrs
    • Compensation: US$217.45k
  • Mark Tryniski (59yo)

    Chairman

    • Tenure: 5.6yrs
    • Compensation: US$312.43k
  • Brian Concannon (61yo)

    Independent Director

    • Tenure: 6.2yrs
    • Compensation: US$217.45k
  • Martha Aronson (52yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: US$209.95k
  • Curt Hartman (55yo)

    CEO, President & Director

    • Tenure: 4.8yrs
    • Compensation: US$4.59m
  • Jerome Lande (43yo)

    Independent Director

    • Tenure: 5.5yrs
    • Compensation: US$60.00k
  • Charles Farkas (67yo)

    Independent Director

    • Tenure: 5.2yrs
    • Compensation: US$217.45k

Company Information

CONMED Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CONMED Corporation
  • Ticker: CNMD
  • Exchange: NasdaqGS
  • Founded: 1970
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$2.860b
  • Shares outstanding: 28.29m
  • Website: https://www.conmed.com

Number of Employees


Location

  • CONMED Corporation
  • 525 French Road
  • Utica
  • New York
  • 13502
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNMDNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 1987
EC8DB (Deutsche Boerse AG)YesCommon StockDEEURJul 1987

Biography

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/15 23:35
End of Day Share Price2019/09/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.