company background image
CNMD

CONMED NYSE:CNMD Stock Report

Last Price

US$103.21

Market Cap

US$3.1b

7D

2.7%

1Y

-18.2%

Updated

16 Aug, 2022

Data

Company Financials +
CNMD fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance0/6
Financial Health2/6
Dividends0/6

CNMD Stock Overview

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

CONMED Competitors

Price History & Performance

Summary of all time highs, changes and price drops for CONMED
Historical stock prices
Current Share PriceUS$103.21
52 Week HighUS$159.11
52 Week LowUS$87.24
Beta1.49
1 Month Change7.42%
3 Month Change-12.25%
1 Year Change-18.21%
3 Year Change6.88%
5 Year Change112.63%
Change since IPO7,640.75%

Recent News & Updates

Aug 11

CONMED declares $0.20 dividend

CONMED (NYSE:CNMD) declares $0.20/share quarterly dividend, in line with previous. Forward yield 0.8% Payable Oct. 5; for shareholders of record Sept. 15; ex-div Sept. 14. See CNMD Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

CNMDUS Medical EquipmentUS Market
7D2.7%2.3%3.6%
1Y-18.2%-19.6%-9.6%

Return vs Industry: CNMD matched the US Medical Equipment industry which returned -19.1% over the past year.

Return vs Market: CNMD underperformed the US Market which returned -10.2% over the past year.

Price Volatility

Is CNMD's price volatile compared to industry and market?
CNMD volatility
CNMD Average Weekly Movement5.7%
Medical Equipment Industry Average Movement9.4%
Market Average Movement7.7%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.2%

Stable Share Price: CNMD is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: CNMD's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19703,800Curt Hartmanhttps://www.conmed.com

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries. The company markets orthopedic surgery products under the Hall, CONMED Linvatec, Concept, and Shutt brands.

CONMED Fundamentals Summary

How do CONMED's earnings and revenue compare to its market cap?
CNMD fundamental statistics
Market CapUS$3.14b
Earnings (TTM)-US$113.92m
Revenue (TTM)US$1.04b

3.0x

P/S Ratio

-27.6x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CNMD income statement (TTM)
RevenueUS$1.04b
Cost of RevenueUS$456.03m
Gross ProfitUS$586.28m
Other ExpensesUS$700.20m
Earnings-US$113.92m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-3.74
Gross Margin56.25%
Net Profit Margin-10.93%
Debt/Equity Ratio146.0%

How did CNMD perform over the long term?

See historical performance and comparison

Dividends

0.8%

Current Dividend Yield

-21%

Payout Ratio

Does CNMD pay a reliable dividends?

See CNMD dividend history and benchmarks
When do you need to buy CNMD by to receive an upcoming dividend?
CONMED dividend dates
Ex Dividend DateSep 14 2022
Dividend Pay DateOct 05 2022
Days until Ex dividend28 days
Days until Dividend pay date49 days

Does CNMD pay a reliable dividends?

See CNMD dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is CNMD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CNMD?

Other financial metrics that can be useful for relative valuation.

CNMD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.9x
Enterprise Value/EBITDA22.6x
PEG Ration/a

Price to Sales Ratio vs Peers

How does CNMD's PS Ratio compare to its peers?

CNMD PS Ratio vs Peers
The above table shows the PS ratio for CNMD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average2.2x
ENOV Enovis
0.8x-1.5%US$3.2b
NUVA NuVasive
2.4x6.7%US$2.8b
LIVN LivaNova
3.4x6.2%US$3.5b
ITGR Integer Holdings
2x5.6%US$2.5b
CNMD CONMED
3x8.5%US$3.1b

Price-To-Sales vs Peers: CNMD is expensive based on its Price-To-Sales Ratio (3x) compared to the peer average (2.2x).


Price to Earnings Ratio vs Industry

How does CNMD's PE Ratio compare vs other companies in the US Medical Equipment Industry?

Price-To-Sales vs Industry: CNMD is good value based on its Price-To-Sales Ratio (3x) compared to the US Medical Equipment industry average (4.4x)


Price to Sales Ratio vs Fair Ratio

What is CNMD's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CNMD PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3x
Fair PS Ratio3.2x

Price-To-Sales vs Fair Ratio: CNMD is good value based on its Price-To-Sales Ratio (3x) compared to the estimated Fair Price-To-Sales Ratio (3.2x).


Share Price vs Fair Value

What is the Fair Price of CNMD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CNMD ($103.21) is trading below our estimate of fair value ($128.42)

Significantly Below Fair Value: CNMD is trading below fair value, but not by a significant amount.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


Discover undervalued companies

Future Growth

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

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


57.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CNMD is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: CNMD is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CNMD is expected to become profitable in the next 3 years.

Revenue vs Market: CNMD's revenue (8.5% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: CNMD's revenue (8.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CNMD's Return on Equity is forecast to be low in 3 years time (19.9%).


Discover growth companies

Past Performance

How has CONMED performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-18.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CNMD is currently unprofitable.

Growing Profit Margin: CNMD is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CNMD is unprofitable, and losses have increased over the past 5 years at a rate of 18.7% per year.

Accelerating Growth: Unable to compare CNMD's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CNMD is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (2.5%).


Return on Equity

High ROE: CNMD has a negative Return on Equity (-16.93%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is CONMED's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: CNMD's short term assets ($577.2M) exceed its short term liabilities ($201.1M).

Long Term Liabilities: CNMD's short term assets ($577.2M) do not cover its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: CNMD's net debt to equity ratio (138.1%) is considered high.

Reducing Debt: CNMD's debt to equity ratio has increased from 85.3% to 146% over the past 5 years.

Debt Coverage: CNMD's debt is not well covered by operating cash flow (7.6%).

Interest Coverage: CNMD's interest payments on its debt are well covered by EBIT (4.3x coverage).


Balance Sheet


Discover healthy companies

Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.77%

Current Dividend Yield

Upcoming Dividend Payment

TodayAug 16 2022Ex Dividend DateSep 14 2022Dividend Pay DateOct 05 202221 days from Ex DividendBuy in the next 28 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: CNMD's dividend (0.78%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: CNMD's dividend (0.78%) is low compared to the top 25% of dividend payers in the US market (3.95%).


Stability and Growth of Payments

Stable Dividend: CNMD is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: CNMD is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: CNMD is not paying a notable dividend for the US market.


Cash Payout to Shareholders

Cash Flow Coverage: CNMD is not paying a notable dividend for the US market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

7.6yrs

Average management tenure


CEO

Curt Hartman (58 yo)

8.08yrs

Tenure

US$9,374,480

Compensation

Mr. Curt R. Hartman has been Chairman of the Board at CONMED Corporation since May 21, 2020. Mr. Hartman has been the Chief Executive Officer and President of CONMED Corporation since November 09, 2014. Mr...


CEO Compensation Analysis

Compensation vs Market: Curt's total compensation ($USD9.37M) is above average for companies of similar size in the US market ($USD6.53M).

Compensation vs Earnings: Curt's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: CNMD's management team is seasoned and experienced (7.6 years average tenure).


Board Members

Experienced Board: CNMD's board of directors are considered experienced (7.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CNMD insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.5%.


Top Shareholders

Company Information

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


Key Information

  • Name: CONMED Corporation
  • Ticker: CNMD
  • Exchange: NYSE
  • Founded: 1970
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Implied Market Cap: US$3.143b
  • Shares outstanding: 30.47m
  • Website: https://www.conmed.com

Number of Employees


Location

  • CONMED Corporation
  • 11311 Concept Boulevard
  • Largo
  • Florida
  • 33773-4908
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/16 00:00
End of Day Share Price2022/08/15 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.