CONMED (NYSE:CNMD) Issues Quarterly Earnings Results

CONMED (NYSE:CNMD) announced its earnings results on Wednesday. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07, FiscalAI reports. The business had revenue of $317.05 million for the quarter, compared to the consensus estimate of $310.59 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS.

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

• CONMED completed the divestiture of its gastroenterology product lines and will provide transition services into 2027, allowing the company to reallocate capital and focus on higher‑growth, higher‑margin businesses.
• First‑quarter revenue was $317 million (down 1.3% y/y) and adjusted EPS was $0.89 (down 6.3% y/y), although organic sales excluding GI rose about 2.1% in constant currency.
• Management raised 2026 organic revenue guidance to 5.0%–6.5% and maintained full‑year adjusted EPS guidance of $4.30–$4.45, citing improving growth drivers and modest FX tailwinds.
• CONMED intends to refinance its convertible notes with bank debt in Q2 (avoiding new convertibles), which management expects will increase interest expense and reduce adjusted EPS by at least $0.10.
• The company highlighted its three core growth platforms—AirSeal (10,000+ installed base, large underpenetrated laparoscopic opportunity), Buffalo Filter (legislative tailwinds and PlumeSafe X5 traction), and BioBrace (growing clinical adoption and an RCT finishing enrollment in 2026)—while supply‑chain recovery and a 100 bps gross‑margin improvement supported continued orthopedic mid‑single‑digit growth.

CONMED Stock Up 1.9%

Shares of CNMD traded up $0.67 during midday trading on Thursday, hitting $36.63. The company had a trading volume of 824,975 shares, compared to its average volume of 511,153. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.66 and a beta of 0.99. The company’s 50 day moving average price is $38.79 and its 200 day moving average price is $41.17. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. CONMED has a 52 week low of $33.21 and a 52 week high of $61.08.

Key Headlines Impacting CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q1 beat on both EPS and revenue, showing the company can deliver near-term earnings upside despite top‑line pressure. Read More.
• Positive Sentiment: Management raised its 2026 organic growth outlook and emphasized a strategic refocus on higher‑growth segments, which could improve growth and margins over time. Read More.
• Neutral Sentiment: Company released the earnings slide deck and held an earnings call; slides and transcript provide detail on segment performance and the timeline for the strategic shift. Read More. • Read More. • Read More.
• Negative Sentiment: Reported revenue fell 1.3% YoY (2.9% in constant currency) and domestic sales declined 5.8%, driven in part by the planned exit of certain GI products — a roughly $15.5M headwind to sales this quarter. That near‑term sales hit is weighing on sentiment. Read More.
• Negative Sentiment: EPS of $0.89, while above estimates, declined from $0.95 a year ago and net margin remains thin (~3.4%), raising questions on margin recovery speed. Read More.
• Negative Sentiment: Guidance commentary and the company’s updated FY outlook were presented but formatting/clarity issues in early reports and a transitional strategy could leave investors uncertain on near‑term FY EPS trajectory. Read More.

Institutional Trading of CONMED

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in CONMED by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,312,804 shares of the company’s stock worth $53,301,000 after buying an additional 16,028 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of CONMED during the 3rd quarter valued at approximately $47,026,000. Deerfield Management Company L.P. lifted its stake in CONMED by 8.6% during the third quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after purchasing an additional 59,925 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CONMED by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 417,541 shares of the company’s stock worth $16,952,000 after purchasing an additional 11,126 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in CONMED in the fourth quarter worth $9,029,000.

Analyst Upgrades and Downgrades

CNMD has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of CONMED from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company raised shares of CONMED to a “hold” rating in a research report on Wednesday, March 18th. Piper Sandler downgraded CONMED from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $39.00 in a research note on Tuesday, March 17th. Finally, Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $49.20.

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.