CNMD
HealthcareCONMED Corporation · Medical - Devices · $1B
What is CONMED Corporation?
CONMED Corporation is a medical technology company that designs, manufactures, and sells surgical devices used in operating rooms worldwide. Based in Largo, Florida, it serves hospitals, surgery centers, and healthcare institutions across multiple surgical specialties.
CONMED generates revenue by selling surgical equipment and related consumables across two primary categories: orthopedic surgery and general surgery. Its orthopedic products help surgeons repair soft tissue injuries using minimally invasive techniques. Its general surgery portfolio covers electrosurgical tools, smoke evacuation systems, insufflation equipment, and endoscopic technologies used in gastroenterology. The company also markets cardiac monitoring products such as ECG electrodes and defibrillation pads, selling directly to healthcare facilities and through specialty distributors.
CONMED was incorporated in 1970 and is headquartered in Largo, Florida.
- Orthopedic soft tissue fixation systems and suture anchors
- Electrosurgical and smoke evacuation equipment
- Clinical insufflation and endomechanical products
- Endoscopic diagnostic and therapeutic devices
- Cardiac monitoring electrodes and defibrillation pads
Is CNMD a Good Stock to Buy?
UQS Score rates CNMD as Below Average overall.
Among the five pillars, Valuation stands out as Attractive, suggesting the stock may be priced at a discount relative to its fundamentals — a potential point of interest for value-oriented investors. The Quality pillar lands at Neutral, indicating the business maintains a functional but unremarkable financial foundation.
The Moat, Growth, and Risk pillars all register as Weak, pointing to limited competitive differentiation, subdued expansion prospects, and meaningful balance-sheet or operational vulnerabilities that investors should weigh carefully.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does CNMD pay dividends?
Yes — CONMED Corporation pays a dividend.
CONMED pays a regular dividend, which is relatively uncommon among smaller medical-device companies that often reinvest all cash into R&D. For income-oriented investors, the dividend signals a degree of financial commitment to shareholders. However, given the Weak Risk pillar rating, prospective investors should review payout sustainability before relying on the income stream.
When does CNMD report earnings?
CONMED reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
The company's Weak Growth pillar suggests recent revenue and earnings trends have lagged expectations relative to sector peers. Neutral Quality indicates operational metrics are neither deteriorating sharply nor accelerating meaningfully.
For the most recent quarter's results and guidance, visit CONMED's investor relations page directly.
CNMD Price History
-70.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in CONMED Corporation?
Based on CONMED Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
CNMD Long-term Outlook
CONMED's fundamental outlook is tempered by Weak Growth and Weak Risk pillar ratings. The business faces headwinds in expanding its top line while managing leverage and operational pressures. The Attractive Valuation pillar does leave room for upside if execution improves, but the path to re-rating depends on demonstrating more consistent revenue momentum and margin stability.
Growth drivers
- Expansion of minimally invasive orthopedic product adoption in surgery centers
- Broader international distribution of general surgery and endoscopic product lines
- Cross-selling opportunities across the combined surgical device portfolio
Key risks
- Elevated financial leverage weighing on the Weak Risk pillar rating
- Limited competitive moat in a market with larger, better-resourced device makers
- Subdued organic growth trajectory reflected in the Weak Growth pillar
CNMD vs Peers
CONMED competes in the medical device space alongside a range of focused and diversified players.
IRadimed focuses narrowly on MRI-compatible medical devices, giving it a specialized niche that differs from CONMED's broader surgical portfolio.
Avanos concentrates on pain management and respiratory health solutions, overlapping with CONMED in the hospital setting but targeting different clinical workflows.
Butterfly Network brings a technology-first approach to point-of-care ultrasound imaging, representing a newer, software-driven model compared to CONMED's hardware-centric device business.
Frequently Asked Questions
What does CONMED Corporation do?
CONMED develops and sells surgical devices across orthopedic and general surgery markets. Its products include soft tissue fixation systems, electrosurgical tools, endoscopic devices, and cardiac monitoring equipment. The company sells to hospitals, surgery centers, and healthcare institutions worldwide through direct sales teams and specialty distributors.
Does CNMD pay dividends?
Yes, CONMED pays a regular dividend. This is notable for a small-cap medical device company, as many peers reinvest all available cash into product development. Investors focused on income should review the company's payout history and Risk pillar profile before drawing conclusions about long-term sustainability.
When does CNMD report earnings?
CONMED reports financial results on a quarterly cadence, in line with standard US-listed company practice. The company does not pre-announce specific dates far in advance. For the most current earnings schedule, check CONMED's investor relations page or a financial calendar service.
Is CNMD a good stock to buy?
UQS Score rates CNMD as Below Average, driven by Weak ratings across Moat, Growth, and Risk. The Valuation pillar is Attractive, which may interest value-focused investors. Whether that discount is warranted or represents opportunity depends on factors best assessed through the full UQS pillar breakdown available to Pro members.
Is CNMD overvalued?
Based on the UQS Valuation pillar, CNMD is rated Attractive, suggesting the stock is not overvalued relative to its fundamentals at the time of scoring. However, an attractive price alone does not offset concerns in the Moat, Growth, and Risk pillars — context matters when interpreting any single pillar.
How does CNMD compare to its competitors?
CONMED operates across a broader surgical device footprint than niche peers like IRadimed or Butterfly Network, but it lacks the scale advantages of larger medical technology companies. Its Below Average UQS Score suggests it currently trails stronger-rated peers on quality and growth metrics. The competitor comparison section above outlines key differentiators.
What is CNMD's market cap bracket?
CNMD is classified as a small-cap company. Small-cap medical device firms like CONMED can offer growth potential but typically carry higher volatility and more limited financial resources than large- or mega-cap healthcare peers, which aligns with the Weak Risk pillar rating.
Who founded CONMED Corporation?
CONMED was incorporated in 1970 and has grown through decades of product development and acquisitions in the surgical device space. Detailed founding history, including key executives involved in the company's early development, is available through publicly accessible corporate filings and the company's own history pages.
Is CNMD a long-term quality investment?
As a long-term quality indicator, CNMD's Below Average UQS Score — with Weak Moat, Growth, and Risk pillars — raises questions about durable competitive advantage and consistent earnings power over time. The Attractive Valuation pillar may offer a margin of safety, but long-term quality investing typically favors companies with stronger moat and growth profiles.
What is the main competitive advantage of CONMED?
CONMED's breadth across orthopedic, general surgery, and cardiac monitoring categories allows it to serve multiple departments within a single hospital system. However, the UQS Moat pillar rates this advantage as Weak, indicating that the company's competitive positioning does not yet translate into durable pricing power or switching-cost barriers relative to sector peers.
What sector does CNMD belong to?
CNMD operates in the Healthcare sector, specifically within medical technology and surgical devices. The sector is characterized by regulatory complexity, long product development cycles, and hospital procurement dynamics — all of which influence the Risk and Growth pillar assessments reflected in CNMD's UQS Score.
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Pro Analysis
CNMD — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 44.9 | 46.1 | 29.0 | 31.9 | 38.0 | 93.5 | 0.0 |
| May 11, 2026 | 44.9 | 46.1 | 29.0 | 31.9 | 38.0 | 93.7 | +1.9 |
| May 10, 2026 | 43.0 | 39.8 | 29.0 | 31.9 | 38.0 | 91.3 | -2.2 |
| May 7, 2026 | 45.2 | 46.1 | 29.0 | 31.9 | 38.0 | 95.6 | +1.9 |
| May 2, 2026 | 43.3 | 42.4 | 29.0 | 31.9 | 34.8 | 92.1 | +0.1 |
| May 1, 2026 | 43.2 | 42.4 | 29.0 | 31.7 | 34.8 | 92.1 | +0.2 |
| Apr 26, 2026 | 43.0 | 42.4 | 29.0 | 31.7 | 34.8 | 90.5 | -0.1 |
| Apr 25, 2026 | 43.1 | 42.4 | 29.0 | 31.7 | 34.8 | 91.3 | 0.0 |
| Apr 24, 2026 | 43.1 | 42.4 | 29.0 | 31.7 | 34.8 | 91.6 | +0.1 |
| Apr 21, 2026 | 43.0 | 42.4 | 29.0 | 31.7 | 34.8 | 90.6 | 0.0 |
CNMD — Pillar Breakdown
Quality
— 46.1/100 (25%)CONMED Corporation has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 31.9/100 (20%)CONMED Corporation faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 38.0/100 (15%)CONMED Corporation has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 94.5/100 (15%)CONMED Corporation appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 29/100 (25%)CONMED Corporation operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for CNMD.
Score Composition
Financial Data
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How is the CNMD UQS Score Calculated?
The UQS (Unified Quality Score) for CONMED Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses CONMED Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether CONMED Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.