CONMED (NYSE:CNMD) Issues Earnings Results, Beats Expectations By $0.11 EPS

CONMED (NYSE:CNMD) announced its quarterly earnings data on Wednesday. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.11, FiscalAI reports. The firm had revenue of $373.20 million during the quarter, compared to analysts’ expectations of $366.88 million. CONMED had a return on equity of 14.22% and a net margin of 4.75%.The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 EPS.

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

• CONMED reported Q4 sales of $373.2M (+7.1% cc) and full‑year sales of $1.375B, with Q4 adjusted EPS of $1.43 (+6.7%) and FY adjusted EPS of $4.59 (+10.1%), reflecting solid top‑line and adjusted profitability growth.
• Management announced the December exit of its gastroenterology product lines, which will cause near‑term earnings dilution but is expected to improve long‑term consolidated growth margins by about 80 basis points once complete.
• Supply‑chain remediation in sports medicine showed material progress — backorder value and SKUs on backorder hit a three‑year low — enabling the sales force to be more proactive and supporting orthopedic growth momentum.
• Key growth platforms showed traction: AirSeal (~1.6M procedures in 2025 and large laparoscopy white space), Buffalo Filter with the new PlumeSafe X5 and legislative tailwinds, and BioBrace adoption plus an ongoing RCT expected to finish enrollment in 2026.
• 2026 guidance reflects mixed headwinds — revenue guide of $1.345–$1.375B (organic cc +4.5–6%) and adjusted EPS of $4.30–$4.45 (below 2025 adjusted EPS) with ~$0.45–0.50 EPS impact from the GI exit and ~$0.30–0.35 from incremental tariffs, even as the board suspended the dividend and approved a $150M buyback.

CONMED Price Performance

Shares of CNMD opened at $38.43 on Thursday. The stock has a 50 day simple moving average of $41.49 and a 200 day simple moving average of $46.49. CONMED has a 52-week low of $38.32 and a 52-week high of $74.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 2.10. The firm has a market capitalization of $1.19 billion, a PE ratio of 18.77, a P/E/G ratio of 1.78 and a beta of 0.96.

Wall Street Analysts Forecast Growth

CNMD has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Zacks Research cut shares of CONMED from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Bank of America reduced their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Piper Sandler dropped their price objective on CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. cut their target price on CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $52.83.

Key CONMED News

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Revenue growth and international strength: CONMED reported mid-single-digit revenue growth with international revenue up ~17% y/y, supporting top-line momentum and helping gross profit expand. BusinessWire: Q4 & Full-Year 2025 Results
• Positive Sentiment: Improved cash flow and balance-sheet metrics: Operating cash flow increased y/y and cash & equivalents rose, while total liabilities edged down — positives for liquidity and financial flexibility. QuiverQuant: Q4 Financial Detail
• Neutral Sentiment: Analyst stance: Needham & Company reaffirmed a “hold” rating on CONMED, keeping near-term analyst sentiment cautious. Benzinga: Needham Reaffirms Hold
• Neutral Sentiment: Company disclosures: Full earnings press release, slide deck and the Q4 earnings call transcript/presentation are available for review — useful for investors who want detail on segment trends, margin drivers and management commentary. Seeking Alpha: Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Analyst price-target backdrop: Recent analyst targets cluster above the current price (median near $52), implying upside per some sell‑side views but the consensus remains mixed. QuiverQuant: Analyst Targets & Institutional Activity
• Negative Sentiment: Weak GAAP earnings and profitability pressure: GAAP diluted EPS was reported at $0.54 (down sharply y/y) and net income/operating profit declined, with some outlets noting EPS missed certain estimates — a key negative that caps enthusiasm. QuiverQuant: Earnings Details
• Negative Sentiment: Insider selling and mixed institutional flows: Multiple recent insider sales (no buys) and notable shifts among large institutional holders may weigh on sentiment until trend clarity returns. QuiverQuant: Insider & Institutional Activity

Institutional Investors Weigh In On CONMED

A number of hedge funds and other institutional investors have recently made changes to their positions in CNMD. Dimensional Fund Advisors LP raised its position in CONMED by 19.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company’s stock valued at $60,984,000 after buying an additional 214,126 shares during the last quarter. Wasatch Advisors LP acquired a new stake in CONMED in the 3rd quarter valued at $47,026,000. Deerfield Management Company L.P. lifted its position in CONMED by 8.6% during the 3rd quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after buying an additional 59,925 shares in the last quarter. Glenmede Investment Management LP grew its holdings in shares of CONMED by 14.0% in the 3rd quarter. Glenmede Investment Management LP now owns 222,136 shares of the company’s stock valued at $10,447,000 after acquiring an additional 27,337 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of CONMED during the 3rd quarter worth about $9,239,000.

About CONMED

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.