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Conmed Corp (CNMD) stock

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NYSE: CNMD NYSE Health Care Equipment Next results ~January 27, 2027

Conmed Corp is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Conmed Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds123 adding, 112 cuttingOf 43 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Conmed files

Where Conmed stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.37bn, up 5.2% on a year earlier, faster than the 4.6% growth a quarter earlier. Free-cash-flow margin held at 11.0%. Operating margin narrowed to 7.5% from 15.3%. It passes 2 of our 5 financial-health checks.

Our model value for Conmed is under review, so past values are not shown until it is resolved.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

Conmed Corp's trailing-twelve-month revenue grew 5.2% year on year, with a free-cash-flow margin of 11.0%.

Our discounted-cash-flow model values the business at ~$75 per share in the base case (~$50–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 2.0% while net income fell 64.5%: a 63pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Margins narrowing. Operating margin is down 7.9 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 45% and a beta of 0.7 against the S&P 500.

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
$1.04 against an average estimate of $1.00: beat by 3.7%
Revenue
$336m, down 0.7% on a year earlier
Share reaction
-3.1% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
net Sales (GAAP) $1,360m to $1,366m (Twelve Months Ending December 31, 2026); adjusted Diluted EPS $4.54 to $4.61 (Twelve Months Ending December 31, 2026)
Next report
January 27, 2027; average EPS estimate $1.26

Conmed's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.2%
  • 1 week-2.3%
  • 1 month+0.6%
  • This year+14.8%
  • 1 year+5.9%
  • 5 years-68.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.4B
Operating margin
7.5%
Net margin
3.4%
EPS (TTM, diluted)
$1.51

Growth

Revenue growth
+5.2%
Change in growth rate
+0.6 pts
Share count change
−0.0%

Cash

Free cash flow (TTM)
$151M
FCF margin
11.0%
Stock pay % of revenue
2.1%

Earnings

Last results
October 28, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Our research
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Conmed Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Our value per share comes from a discounted-cash-flow model of Conmed Corp's free cash flow after stock-based pay ( $146M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$39.52$40.39$47.39$60.37$106.08$107.31$136.67$86.12$107.19$67.70$40.60
Market value$1.1bn$1.1bn$1.3bn$1.7bn$3.1bn$3.2bn$4.4bn$2.6bn$3.4bn$2.1bn$1.3bn
+ Net debt (− = net cash)$198m$471m$454m$439m$743m$726m$664m$1.0bn$950m$881m$794m
Enterprise value$1.3bn$1.6bn$1.8bn$2.2bn$3.9bn$3.9bn$5.1bn$3.6bn$4.3bn$3.0bn$2.1bn
Multiples
Price / sales 1.5x1.5x1.7x2.0x3.3x3.7x4.4x2.5x2.7x1.6x0.9x
Price / earnings 36.1x77.0x24.1x42.7x109.3xn/m70.4x—52.5x15.9x26.9x
Price / free cash flow 30.7x44.9x25.3x30.0x41.7x61.4x45.4xn/m31.8x13.7x8.4x
EV / EBITDA 18.6x27.5x26.7x24.3x39.6x60.7x40.1x42.0x31.7x13.8x17.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

63 /100

Moderate moat

How hard Conmed's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Cash operating profit has been a median 5.9% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 54.6%, moving by 0.9 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median 7.9%; its worst year was 4.9%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 7.3% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 5.7% over five years; stock-based pay has been a median 1.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 27, 2027, after the close. Analysts expect revenue of $367m and EPS of $1.26 (range $1.26 to $1.27) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.57 −0% $1.4bn −1%
Next $4.75 +4% $1.4bn +5%

Next year's EPS estimate has moved −0.7% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.8% on 90 days ago. In the last 30 days, 5 analysts raised Conmed Corp's forecast and 0 cut it.

Consensus EPS forecast Conmed Corp, last 90 days
$4.50 $4.60 $4.70 $4.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.54 Current fiscal year, 60 days ago: $4.54 Current fiscal year, 30 days ago: $4.54 Current fiscal year, 7 days ago: $4.54 Current fiscal year, Now: $4.57 $4.57 Next fiscal year, 90 days ago: $4.78 Next fiscal year, 60 days ago: $4.78 Next fiscal year, 30 days ago: $4.78 Next fiscal year, 7 days ago: $4.78 Next fiscal year, Now: $4.75 $4.75

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.54$4.78
60 days ago $4.54$4.78
30 days ago $4.54$4.78
7 days ago $4.54$4.78
Now $4.57$4.75

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.00 $1.04 +3.7%
Jun 2026 $1.11 $1.38 +24.3%
Mar 2026 $0.82 $0.89 +8.8%
Dec 2025 $1.32 $1.43 +8.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • Net Sales (GAAP) Twelve Months Ending December 31, 2026 $1,360m to $1,366m GAAP Lowered vs 1,358m to 1,373m
    “Net Sales (GAAP) $ 1,360 $ 1,366 $ 1,358 $ 1,373” source
  • Adjusted Diluted EPS Twelve Months Ending December 31, 2026 $4.54 to $4.61 Non-GAAP Raised vs 4.48 to 4.6
    “Adjusted Diluted EPS (4) $ 4.54 $ 4.61 $ 4.48 $ 4.60” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Conmed Corp's revenue by +2.8% next year and +6.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+1.5%, weight 44%) , management guidance (+1.5%, weight 34%) and the company's own record (+7.4%, weight 23%) . How the weights are set.

Analyst recommendations

7 analysts, Oct 2026
Buy00%
Hold686%
Sell114%

Monthly trend

  1. Oct 2026617
  2. Sep 2026617
  3. Aug 2026617

Counts of recommendations published by analysts covering Conmed Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.6%
of tradable shares
Days to cover
4.85
at average volume
Short interest, 1 month
−11%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.4%
of shares
Employees
3,900
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +5.9%

$44.00 on October 31, 2025 to $46.59

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.4bn +3.7%
Net margin 8.3% 3.4% −58.8%
P/E multiple 12.4x 30.6x +146.2%
Share count 31m 31m +0.7%

Biggest factor: p/e multiple.

Last 3 years −53.3%

$99.87 on November 3, 2023 to $46.59

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.4bn +20.7%
Net margin 7.8% 3.4% −55.8%
P/E multiple 33.4x 30.6x −8.5%
Share count 30m 31m −4.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CNMD+27%−37%+25%−37%−40%+15%
Industry peers (median)−9%−37%−9%−19%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CNMD50%42%58%25%33%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CNMD−17%−53%−33%−45%−47%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 79% from November 9, 2021 to June 17, 2026. Getting back needed a 371% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$32.11 – $51.86
From 52-week high
−10.2%
vs 50-day average
−0.8%
vs 200-day average
+12.5%
Volatility (1 year)
45%
Beta vs S&P 500
0.70

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±5.7%
After a week
6 up, 5 down
typical move ±6.6%
After a month
8 up, 3 down
typical move ±9.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 −3.1% 0.0% — —
July 29, 2026 +6.2% +0.1% +11.4% +13.7%
April 29, 2026 −0.4% +1.0% +1.4% −3.0%
January 28, 2026 −5.7% −0.2% +0.9% +16.2%
November 5, 2025 −3.3% −0.7% −4.7% −12.3%
July 30, 2025 +1.7% −0.5% +1.5% +6.8%
April 30, 2025 +11.8% +0.7% +9.5% +10.9%
February 5, 2025 −7.6% +0.8% −14.2% −13.9%
October 30, 2024 +5.5% −2.3% +16.9% +14.5%
October 4, 2024 −3.8% 0.0% −3.8% +5.9%
July 31, 2024 −6.0% +0.2% −4.4% +6.4%
April 24, 2024 −13.2% −0.4% −4.2% +2.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Conmed Corp
$1B $1.1B $1.2B $1.3B $1.4B FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Revenue (TTM), FY23 Q1: $1.1B Revenue (TTM), FY23 Q2: $1.1B Revenue (TTM), FY23 Q3: $1.2B Revenue (TTM), FY23 Q4: $1.2B Revenue (TTM), FY24 Q1: $1.3B Revenue (TTM), FY24 Q2: $1.3B Revenue (TTM), FY24 Q3: $1.3B Revenue (TTM), FY24 Q4: $1.3B Revenue (TTM), FY25 Q1: $1.3B Revenue (TTM), FY25 Q2: $1.3B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.4B $1.4B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY23 Q1 $1.1B
FY23 Q2 $1.1B
FY23 Q3 $1.2B
FY23 Q4 $1.2B
FY24 Q1 $1.3B
FY24 Q2 $1.3B
FY24 Q3 $1.3B
FY24 Q4 $1.3B
FY25 Q1 $1.3B
FY25 Q2 $1.3B
FY25 Q3 $1.3B
FY25 Q4 $1.4B
Revenue growth, TTM YoY Conmed Corp
0% 5% 10% 15% 20% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Revenue growth, TTM YoY, FY23 Q1: 7.7% Revenue growth, TTM YoY, FY23 Q2: 9.3% Revenue growth, TTM YoY, FY23 Q3: 9.4% Revenue growth, TTM YoY, FY23 Q4: 19.1% Revenue growth, TTM YoY, FY24 Q1: 14.8% Revenue growth, TTM YoY, FY24 Q2: 12.0% Revenue growth, TTM YoY, FY24 Q3: 10.2% Revenue growth, TTM YoY, FY24 Q4: 5.0% Revenue growth, TTM YoY, FY25 Q1: 4.3% Revenue growth, TTM YoY, FY25 Q2: 3.9% Revenue growth, TTM YoY, FY25 Q3: 4.6% Revenue growth, TTM YoY, FY25 Q4: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q1 7.7%
FY23 Q2 9.3%
FY23 Q3 9.4%
FY23 Q4 19.1%
FY24 Q1 14.8%
FY24 Q2 12.0%
FY24 Q3 10.2%
FY24 Q4 5.0%
FY25 Q1 4.3%
FY25 Q2 3.9%
FY25 Q3 4.6%
FY25 Q4 5.2%
Operating margin (TTM) Conmed Corp
5% 10% 15% 20% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Operating margin (TTM), FY23 Q1: 5.5% Operating margin (TTM), FY23 Q2: 5.6% Operating margin (TTM), FY23 Q3: 5.9% Operating margin (TTM), FY23 Q4: 9.7% Operating margin (TTM), FY24 Q1: 11.3% Operating margin (TTM), FY24 Q2: 12.7% Operating margin (TTM), FY24 Q3: 15.4% Operating margin (TTM), FY24 Q4: 15.3% Operating margin (TTM), FY25 Q1: 13.8% Operating margin (TTM), FY25 Q2: 13.0% Operating margin (TTM), FY25 Q3: 8.8% Operating margin (TTM), FY25 Q4: 7.5% 7.5%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q1 5.5%
FY23 Q2 5.6%
FY23 Q3 5.9%
FY23 Q4 9.7%
FY24 Q1 11.3%
FY24 Q2 12.7%
FY24 Q3 15.4%
FY24 Q4 15.3%
FY25 Q1 13.8%
FY25 Q2 13.0%
FY25 Q3 8.8%
FY25 Q4 7.5%
FCF margin (TTM) Conmed Corp
0% 5% 10% 15% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 FCF margin (TTM), FY23 Q1: 0.6% FCF margin (TTM), FY23 Q2: 1.4% FCF margin (TTM), FY23 Q3: 3.2% FCF margin (TTM), FY23 Q4: 8.5% FCF margin (TTM), FY24 Q1: 11.2% FCF margin (TTM), FY24 Q2: 12.5% FCF margin (TTM), FY24 Q3: 12.9% FCF margin (TTM), FY24 Q4: 11.8% FCF margin (TTM), FY25 Q1: 12.5% FCF margin (TTM), FY25 Q2: 11.2% FCF margin (TTM), FY25 Q3: 11.1% FCF margin (TTM), FY25 Q4: 11.0% 11.0%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q1 0.6%
FY23 Q2 1.4%
FY23 Q3 3.2%
FY23 Q4 8.5%
FY24 Q1 11.2%
FY24 Q2 12.5%
FY24 Q3 12.9%
FY24 Q4 11.8%
FY25 Q1 12.5%
FY25 Q2 11.2%
FY25 Q3 11.1%
FY25 Q4 11.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Conmed took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $1.4B
  2. Cost of revenue $624M · 45.4%
  3. Gross profit $750M · 54.6%
  4. Research and development $55.9M · 4.1%
  5. Selling, general and admin $592M · 43.1%
  6. Operating income $103M · 7.5%
  7. Income tax $24.1M · 1.8%
  8. Interest and other $31.5M · 2.3%
  9. Net income $47.1M · 3.4%

Shares of revenue. Source: Conmed's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 695 714 725 767 763 740 719 764 796 860 955 862 1,011 1,045 1,245 1,307 1,375
Gross profit 337 365 375 406 412 404 382 408 431 469 525 460 568 571 676 733 750
EBITDA 47 74 27 84 75 73 70 58 67 90 98 64 126 86 137 217 120
Operating income 28 57 8 65 57 53 51 38 47 71 79 46 110 70 121 200 103
Net income 12 30 1 40 36 32 30 15 55 41 29 10 63 −81 64 132 47
Diluted EPS $0.42 $1.05 $0.03 $1.41 $1.28 $1.16 $1.09 $0.52 $1.97 $1.41 $0.97 $0.32 $1.94 −$2.68 $2.04 $4.25 $1.51
Growth (year on year)
Revenue — +2.7% +1.6% +5.8% −0.6% −3.0% −2.8% +6.2% +4.3% +7.9% +11.1% −9.7% +17.2% +3.4% +19.1% +5.0% +5.2%
EBITDA — +58.7% −64.0% +212.9% −10.4% −3.4% −3.7% −16.8% +15.2% +34.1% +8.9% −34.5% +97.0% −31.8% +58.9% +58.6% −44.8%
Operating income — +102.0% −85.5% — −13.3% −6.6% −3.1% −26.4% +24.6% +51.9% +11.0% −41.8% +138.5% −36.2% +72.2% +66.1% −48.8%
Net income — — −97.5% — −11.2% −10.4% −5.3% −51.9% — −26.4% −29.9% −66.7% — −228.8% — +105.4% −64.5%
Diluted EPS — — −97.1% — −9.2% −9.4% −6.0% −52.3% — −28.4% −31.2% −67.0% — −238.1% — +108.3% −64.5%
Margins
Gross margin 48.6% 51.2% 51.7% 52.9% 54.1% 54.6% 53.1% 53.5% 54.1% 54.6% 54.9% 53.4% 56.2% 54.6% 54.3% 56.1% 54.6%
EBITDA margin 6.8% 10.4% 3.7% 10.9% 9.9% 9.8% 9.7% 7.6% 8.4% 10.5% 10.2% 7.4% 12.5% 8.2% 11.0% 16.6% 8.7%
Operating margin 4.1% 8.0% 1.1% 8.5% 7.4% 7.1% 7.1% 4.9% 5.9% 8.3% 8.3% 5.3% 10.9% 6.7% 9.7% 15.3% 7.5%
Net margin 1.7% 4.3% 0.1% 5.3% 4.7% 4.3% 4.2% 1.9% 7.0% 4.8% 3.0% 1.1% 6.2% −7.7% 5.2% 10.1% 3.4%
Free-cash-flow margin 0.5% 3.3% 11.8% 9.6% 8.2% 6.7% 5.0% 3.3% 6.6% 6.8% 7.9% 6.0% 9.6% 1.1% 8.5% 11.8% 11.0%
Cash flow
Cash from operations 25 38 103 95 81 65 51 40 66 75 95 65 112 33 125 167 171
Capital spending 21 15 18 22 18 15 15 15 13 17 20 13 15 22 19 13 20
Free cash flow 4 24 85 74 63 50 36 25 53 58 75 52 97 12 106 154 151
Stock-based pay 4 4 5 6 6 9 7 8 8 10 12 13 16 22 24 26 28
Free cash flow after stock pay −1 19 80 68 57 40 28 17 44 48 63 38 81 −10 82 128 123
Balance sheet
Cash 10 12 26 24 54 66 73 27 33 18 26 27 21 29 24 24 41
Total debt 0 196 144 162 216 241 271 498 486 457 769 754 685 1,055 974 906 835
Net debt (negative = net cash) −10 183 117 138 161 175 198 471 454 439 743 726 664 1,026 950 881 794
Diluted shares 29m 29m 29m 29m 28m 28m 28m 28m 28m 29m 29m 29m 32m 30m 32m 31m 31m
Returned to shareholders
Dividends — 0 0 13 17 22 22 22 22 22 23 23 23 24 25 25 25
Buybacks 0 23 15 4 51 17 0 0 — — — — — — — — —
Total returned 0 23 15 17 67 39 22 22 22 22 23 23 23 24 25 25 25

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · September 30, 2026
What it owns · $2.3bn
Short-term assets $682mLonger-term assets $1.6bn
What it owes, and who funded it · $2.3bn
Short-term liabilities $459mLonger-term liabilities $786mShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $682m of assets due within a year against $459m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $682m short-term assets against $786m of longer-dated liabilities.
  • More cash than debt $48m of cash against $636m of debt.
  • Debt below 40% of shareholders' equity Debt is 60% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 89% to 60% over five years.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Conmed Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$24.7M
Diluted share count
−0.0%
year over year
Total shareholder yield
1.7%
dividends 1.7% + buybacks 0.0% of market value
Dividend payout ratio
53%
of net income paid out
R&D spending
4.1%
of revenue
Sales & admin spending
43.1%
of revenue
Days sales outstanding
66 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated CNMD HAE STVN PEN MMSI IART Median
Revenue, last 12 months $1.4bn $1.4bn $1.3bn $1.6bn $1.6bn $1.7bn $102m
Revenue growth, last 12 months 5.2% 0.4% 12.3% 17.0% 9.1% 0.8% 9.1%
Revenue growth, 3-year average 9.6% 3.5% — 16.2% 9.5% 2.4% 13.0%
Revenue growth, latest quarter −0.7% 5.6% — 15.6% 8.4% 2.3% 9.9%
Gross margin 54.6% 59.0% 29.0% 68.0% 49.4% 52.4% 61.1%
Operating margin 7.5% 11.9% 16.8% 12.1% 13.5% 4.4% −8.3%
Operating margin, 3-year average 10.8% 13.6% — 8.4% 12.1% −7.7% −17.9%
Net margin 3.4% 7.1% 11.8% 10.1% 9.9% 0.8% −11.7%
Cash from operations / revenue 12.4% 24.3% 24.1% 16.7% 17.0% 8.5% −1.7%
Free-cash-flow margin 11.0% 21.5% 1.9% 12.8% 12.4% 5.2% −3.9%
Free-cash-flow margin, 3-year average 10.4% 14.3% — 11.9% 13.1% 2.4% −6.2%
Stock pay / revenue 2.1% 2.5% — 3.7% 2.8% 1.2% 6.1%
Change in share count −0.0% −6.5% 0.7% 0.5% −0.8% 1.3% 3.9%

Median of all 135 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
General Surgery $800M 58.2% ▲ 4.9%
Orthopedic Surgery $575M 41.8% ▲ 5.6%
Geography
Region Revenue Share YoY
United States $775M 56.3% ▲ 3.5%
EMEA $265M 19.3% ▲ 8.9%
Asia Pacific $209M 15.2% ▲ 7.2%
Americasexcludingthe United States $127M 9.2% ▲ 4.7%

From Conmed Corp's 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.1B
Institutions reporting
244
Shares held vs prior quarter
0.0%
Positions opened / closed
39 / 30

Top buyers and sellers, Q2 2026: 123 institutions bought and 112 sold ; the biggest buyer was Paradigm Capital Management Inc (+538K shares) and the biggest seller Cooke & Bieler LP (−414K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $158M 4.8M 14.1% ▼ 0.1%
Earnest Partners LLC $82M 2.5M 7.3% ▼ 2.5%
Vanguard Portfolio Management LLC $71.6M 2.2M 6.4% ▲ 5.4%
Fuller & Thaler Asset Management, Inc. $51.7M 1.6M 4.6% ▼ 3.8%
State Street Corp $46.4M 1.4M 4.2% ▲ 2.4%
Vanguard Capital Management LLC $44.4M 1.4M 4.0% ▼ 2.0%
Bank Of America Corp $43.9M 1.3M 3.9% ▼ 4.4%
Dimensional Fund Advisors LP $43.1M 1.3M 3.9% ▼ 5.4%
Sei Investments Co $32.3M 988K 2.9% ▼ 1.6%
Invenomic Capital Management LP $27.6M 842K 2.5% ▼ 9.9%
Capital Research Global Investors $27M 824K 2.4% ▼ 11.0%
Geode Capital Management, LLC $25.9M 790K 2.3% ▲ 6.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Conmed Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $161,091 2 trades by 2 insiders · 100% under pre-set plans
Net ▼ $161,091 net selling
Insider Date Trade Shares Price Value
Glaze Richard Chief Information Officer November 21, 2025 Sell pre-set plan 257 $41.21 $10,591
Garner Todd W Executive Vice President & CFO November 6, 2025 Sell pre-set plan 3,500 $43.00 $150,500

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Conmed Corp disclosed in the last 12 months; 2 earlier trades on record.

  • Van Taylor(R-TX 3):Sale (full), $1,001 - $15,000, traded March 25, 2019, filed April 15, 2019
  • Van Taylor(R-TX 3):Purchase, $1,001 - $15,000, traded February 15, 2019, filed March 14, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 29, 2026
  • January 28, 2026
  • November 5, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Conmed Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Conmed Corp in brief

What does Conmed Corp do?
Conmed Corp is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Conmed Corp's stock ticker?
Conmed Corp trades under the ticker CNMD on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Conmed Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Conmed Corp reported revenue of $1.4B, 5.2% higher than a year earlier, according to its SEC filings.
What is Conmed Corp's free cash flow?
Conmed Corp's free-cash-flow margin is 11.0% of revenue over the trailing twelve months.
Who are Conmed Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Earnest Partners LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Conmed Corp's market cap?
On December 31, 2025, Conmed Corp's market capitalisation was about $1.3B, with a price-to-earnings ratio of 26.9 and net debt of $794M. Market figures come from third-party market data and may be delayed.
Does Conmed Corp pay a dividend?
Yes: Conmed Corp paid $24.7M in dividends over the trailing twelve months, a dividend yield of 1.71% and a payout ratio of 52.6%.
How much debt does Conmed Corp have?
Conmed Corp's debt-to-equity ratio is 60.0%, from its latest balance sheet (89.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Conmed Corp's competitors?
In our Health Care Equipment peer group, the companies closest to Conmed Corp are Haemonetics Corp, Stevanato Group S.p.a., Penumbra Inc, Merit Medical Systems Inc and Integra Lifesciences Holdings Corp. The side-by-side comparison below sets their revenue, margins and growth against Conmed Corp's.
Are insiders buying or selling Conmed Corp stock?
Over the last 12 months, Conmed Corp's directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Conmed Corp's next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Conmed Corp announces its own schedule.