CONMED (NYSE:CNMD) Releases Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Beat on EPS: CONMED reported adjusted EPS of $0.89, beating the consensus $0.82 by $0.07, while quarterly revenue fell about 1.3% year‑over‑year and adjusted EPS declined roughly 6.3% y/y.
• Strategic shift and outlook: The company completed the divestiture of its gastroenterology product lines and raised 2026 organic revenue guidance to 5.0%–6.5%, while maintaining full‑year adjusted EPS guidance of $4.30–$4.45.
• Refinancing headwind: CONMED plans to refinance convertible notes with bank debt in Q2, which management expects will increase interest expense and reduce adjusted EPS by at least $0.10, even as it highlights growth platforms like AirSeal, Buffalo Filter and BioBrace.

CONMED (NYSE:CNMD - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07, FiscalAI reports. CONMED had a return on equity of 14.23% and a net margin of 3.42%.During the same period in the previous year, the business earned $0.95 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year.

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 Price Performance

NYSE:CNMD traded down $0.91 during trading hours on Wednesday, reaching $35.88. The company had a trading volume of 491,887 shares, compared to its average volume of 508,083. The stock has a 50-day moving average of $38.95 and a two-hundred day moving average of $41.20. CONMED has a one year low of $33.21 and a one year high of $61.08. The firm has a market capitalization of $1.08 billion, a PE ratio of 23.76, a PEG ratio of 1.66 and a beta of 0.99. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNMD. Zacks Research upgraded shares of CONMED from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. Piper Sandler lowered CONMED from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $55.00 to $39.00 in a research note on Tuesday, March 17th. Wells Fargo & Company raised CONMED to a "hold" rating in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CONMED in a report on Wednesday, January 21st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of CONMED in a report on Thursday, January 29th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $49.20.

Institutional Trading of CONMED

Large investors have recently bought and sold shares of the stock. 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 valued at $53,301,000 after purchasing an additional 16,028 shares during the last quarter. Wasatch Advisors LP bought a new position in CONMED during the 3rd quarter valued at about $47,026,000. Deerfield Management Company L.P. lifted its holdings in CONMED by 8.6% during the 3rd quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company's stock valued at $35,752,000 after purchasing an additional 59,925 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CONMED by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 417,541 shares of the company's stock valued at $16,952,000 after purchasing an additional 11,126 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in CONMED during the 4th quarter valued at about $9,029,000.

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.

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