CONMED (NYSE:CNMD) Posts Earnings Results, Beats Estimates By $0.28 EPS

CONMED (NYSE:CNMD) released its quarterly earnings data on Wednesday. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.28, FiscalAI reports. CONMED had a net margin of 4.12% and a return on equity of 14.38%. The company had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. CONMED updated its FY 2026 guidance to 4.480-4.600 EPS.

Here are the key takeaways from CONMED’s conference call:

• Second-quarter earnings exceeded expectations: Organic sales rose 6% year over year, while adjusted EPS increased 20% to $1.38, including a $0.21 benefit from tariff refunds. Excluding the refund, EPS still exceeded the high end of guidance by approximately $0.03.
• Core growth platforms continued to advance. General surgery organic sales grew 5.3%, orthopedic sales rose 6.8% globally, and Buffalo Filter direct smoke-evacuation sales exceeded the company’s long-term growth expectations; BioBrace also remained a key orthopedic contributor.
• AirSeal growth was positive but below expectations. Capital and disposable sales both grew sequentially, and the company expects improvement in the second half, but it lowered the pace of expected improvement while maintaining a long-term high-single-digit to low-double-digit growth outlook.
• Guidance became more cautious on revenue and cash flow. Full-year organic constant-currency sales growth guidance was narrowed to 5%-6% from 5%-6.5%, while free-cash-flow guidance declined to approximately $115 million from $125 million, primarily due to working capital, interest expense, and tax assumptions.
• EPS guidance was raised and the balance sheet was refinanced. Full-year adjusted EPS guidance increased to $4.48-$4.60, and CONMED refinanced debt by using a new $450 million term loan and revolver borrowings to repurchase $645.2 million of convertible notes ahead of their 2027 maturity.

CONMED Trading Down 3.1%

NYSE:CNMD traded down $1.45 on Friday, reaching $45.53. The stock had a trading volume of 93,511 shares, compared to its average volume of 557,262. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 3.20 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04. The firm’s fifty day moving average is $37.09 and its two-hundred day moving average is $38.42. CONMED has a 12-month low of $31.44 and a 12-month high of $56.63.

Hedge Funds Weigh In On CONMED

Several institutional investors and hedge funds have recently modified their holdings of CNMD. Kestra Advisory Services LLC purchased a new stake in CONMED in the 4th quarter worth approximately $26,000. Kelleher Financial Advisors purchased a new position in shares of CONMED during the 3rd quarter worth $28,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of CONMED by 409.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after purchasing an additional 581 shares during the last quarter. Quarry LP boosted its holdings in shares of CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after purchasing an additional 617 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in CONMED in the fourth quarter valued at $52,000.

CONMED News Roundup

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q2 results exceeded expectations. CONMED reported adjusted earnings of $1.38 per share versus the $1.10 consensus estimate, while revenue reached $343.5 million, ahead of the $337.6 million forecast. Earnings also increased from $1.15 per share in the prior-year quarter. CONMED Corporation Reports Second Quarter 2026 Financial Results; Updates Full Year 2026 Guidance
• Positive Sentiment: Management raised the earnings outlook. CONMED now expects 2026 adjusted EPS of $4.48 to $4.60, above the roughly $4.37 analyst consensus, while targeting 5% to 6% organic growth. Margin expansion and solid international sales provided additional support. CONMED forecasts 2026 adjusted EPS of $4.48 to $4.60 while targeting 5% to 6% organic growth
• Positive Sentiment: Wells Fargo raised its price target for CNMD to $46 from $39, reflecting the improved earnings outlook, although it maintained an Equal Weight rating. Wells Fargo price-target update
• Neutral Sentiment: Piper Sandler reaffirmed its Neutral rating but increased its price target to $45 from $39. The revised target suggests analysts see relatively little near-term upside after the recent rally. Piper Sandler rating update
• Negative Sentiment: Reported sales growth remained subdued. Revenue rose only 0.3% year over year, or declined 0.5% on a constant-currency basis. Organic growth was stronger after excluding discontinued gastrointestinal product offerings, but the strategic exits weigh on headline comparisons and may be contributing to investor caution.

Wall Street Analysts Forecast Growth

CNMD has been the subject of several research analyst reports. Zacks Research downgraded CONMED from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of CONMED from a “hold” rating to a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. decreased their price target on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Bank of America restated an “underperform” rating and issued a $40.00 price target on shares of CONMED in a research report on Monday, June 29th. Finally, Wells Fargo & Company lifted their price target on CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $41.40.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.