CONMED Corporation (CNMD)

NYSEHealth CareMedical - DevicesSnapshot 2026-10-23

$49.25-0.38%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge CONMED Corporation’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	368.99M
EPS	—	1.266
FY 2026 · Annual
Revenue	—	1.37B
EPS	$4.3–$4.45non-GAAP	4.536
Organic revenue growth (constant currency)	5%–6.5%	—
FY 2027 · Annual
Revenue	—	1.43B
EPS	—	4.781

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain active share buybacks	A supporting condition in CONMED Corporation's published investment case. The stated target is continue share buybacks at recent levels.	Intact	no share buybacks announced or material reduction in buyback activity	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
EPS near $4.38 in 2026	A primary condition in CONMED Corporation's published investment case. The stated target is EPS >= $4.3.	Intact	EPS guidance midpoint falls below $4.3 for FY26	Diluted EPS: $0.77 per share FY2026-Q2; GAAP. Published target: EPS >= $4.3. Target period is not explicitly aligned with this observation. Source published Jul 29, 20260.77 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 5c12febe-e130-4ec9-a8cc-d240174eb1f1. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Achieve 5.0% to 6.5% organic revenue growth in 2026	A primary condition in CONMED Corporation's published investment case. The stated target is >=5.0% YoY organic revenue growth.	Under Pressure	organic revenue growth falls below 3% in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 2 quarters. The company reported 6.0% organic constant currency net sales growth in 2026-Q2 and updated full-year 2026 guidance to expect 5.0% to 6.5% organic growth excluding gastroenterology products. The trajectory is delivering consistent growth aligned with management's stated target. Delivery assessment Oct 24, 2026
Maintain valuation discount to peers	Its valuation is low compared to peers, with a price-to-earnings ratio of 10.7.	Intact	PE ratio rises above 20 without earnings growth justification	P/E (TTM): 10.30x As of 2026-10-23; trailing twelve months. The target timing and basis require a separate assessment. Market data as of Oct 23, 202610.3033 ratio · calculatedLast status assessment Oct 24, 2026 Measurement source consolidated · TTM valuation Period ending Oct 23, 2026 Source: mart.stock_valuation_daily. Reference: CNMD:2026-10-23. Source status: canonical calculation. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

$4.72 → Unavailable · observed estimates

FY2027 revenue$1.43B

$1.43B → $1.43B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$4.72	$1,433,989,290	7 / 7
2026-07-25	$4.72	$1,433,989,290	7 / 7
2026-07-26	$4.72	$1,433,989,290	7 / 7
2026-07-27	$4.72	$1,433,989,290	7 / 7
2026-07-28	$4.72	$1,433,989,290	7 / 7
2026-07-29	Unavailable	$1,433,953,741	4 / 5
2026-07-30	$4.72	$1,433,989,290	7 / 7
2026-07-31	Unavailable	$1,433,499,248	4 / 5
2026-08-01	Unavailable	$1,433,499,248	4 / 5
2026-08-02	$4.78	$1,433,551,130	7 / 7
2026-08-03	Unavailable	$1,433,499,248	4 / 5
2026-08-04	$4.78	$1,433,551,130	7 / 7
2026-08-05	Unavailable	$1,433,499,248	4 / 5
2026-08-06	$4.78	$1,433,551,130	7 / 7
2026-08-07	Unavailable	$1,433,499,248	4 / 5
2026-08-08	$4.78	$1,433,551,130	7 / 7
2026-08-09	$4.78	$1,433,551,130	7 / 7
2026-08-10	Unavailable	$1,433,499,248	4 / 5
2026-08-11	$4.78	$1,433,551,130	7 / 7
2026-08-12	$4.78	$1,433,551,130	7 / 7
2026-08-13	$4.78	$1,433,551,130	7 / 7
2026-08-14	Unavailable	$1,433,499,248	4 / 5
2026-08-15	Unavailable	$1,433,499,248	4 / 5
2026-08-16	Unavailable	$1,433,499,248	4 / 5
2026-08-17	Unavailable	$1,433,499,248	4 / 5
2026-08-18	Unavailable	$1,433,499,248	4 / 5
2026-08-19	Unavailable	$1,433,499,248	4 / 5
2026-08-20	Unavailable	$1,433,499,248	4 / 5
2026-08-21	Unavailable	$1,433,499,248	4 / 5
2026-08-22	Unavailable	$1,433,499,248	4 / 5
2026-08-23	Unavailable	$1,433,499,248	4 / 5
2026-08-24	Unavailable	$1,433,499,248	4 / 5
2026-08-25	Unavailable	$1,433,499,248	4 / 5
2026-08-26	Unavailable	$1,433,499,248	4 / 5
2026-08-27	Unavailable	$1,433,499,248	4 / 5
2026-08-28	Unavailable	$1,433,499,248	4 / 5
2026-08-29	Unavailable	$1,433,499,248	4 / 5
2026-08-30	Unavailable	$1,433,499,248	4 / 5
2026-08-31	Unavailable	$1,433,499,248	4 / 5
2026-09-01	Unavailable	$1,433,499,248	4 / 5
2026-09-02	Unavailable	$1,433,499,248	4 / 5
2026-09-03	Unavailable	$1,433,499,248	4 / 5
2026-09-04	Unavailable	$1,433,499,248	4 / 5
2026-09-05	Unavailable	$1,433,499,248	4 / 5
2026-09-06	Unavailable	$1,433,499,248	4 / 5
2026-09-07	Unavailable	$1,433,499,248	4 / 5
2026-09-08	Unavailable	$1,433,499,248	4 / 5
2026-09-09	Unavailable	$1,433,499,248	4 / 5
2026-09-10	Unavailable	$1,433,499,248	4 / 5
2026-09-11	Unavailable	$1,433,499,248	4 / 5
2026-09-12	Unavailable	$1,433,613,534	4 / 5
2026-09-13	Unavailable	$1,433,613,534	4 / 5
2026-09-14	Unavailable	$1,433,613,534	4 / 5
2026-09-15	Unavailable	$1,433,613,534	4 / 5
2026-09-16	Unavailable	$1,433,613,534	4 / 5
2026-09-17	Unavailable	$1,433,613,534	4 / 5
2026-09-18	Unavailable	$1,433,613,534	4 / 5
2026-09-19	Unavailable	$1,433,613,534	4 / 5
2026-09-20	Unavailable	$1,433,613,534	4 / 5
2026-09-21	Unavailable	$1,433,613,534	4 / 5
2026-09-22	Unavailable	$1,433,613,534	4 / 5
2026-09-23	Unavailable	$1,433,613,534	4 / 5
2026-09-24	Unavailable	$1,433,613,534	4 / 5
2026-09-25	Unavailable	$1,433,613,534	4 / 5
2026-09-26	Unavailable	$1,433,613,534	4 / 5
2026-09-27	Unavailable	$1,433,613,534	4 / 5
2026-09-28	Unavailable	$1,433,613,534	4 / 5
2026-09-29	Unavailable	$1,433,613,534	4 / 5
2026-09-30	Unavailable	$1,433,613,534	4 / 5
2026-10-01	Unavailable	$1,433,613,534	4 / 5
2026-10-02	Unavailable	$1,433,613,534	4 / 5
2026-10-03	Unavailable	$1,433,613,534	4 / 5
2026-10-04	Unavailable	$1,433,613,534	4 / 5
2026-10-05	Unavailable	$1,433,613,534	4 / 5
2026-10-06	Unavailable	$1,433,613,534	4 / 5
2026-10-07	Unavailable	$1,433,613,534	4 / 5
2026-10-08	Unavailable	$1,433,613,534	4 / 5
2026-10-09	Unavailable	$1,433,656,391	4 / 5
2026-10-10	Unavailable	$1,433,656,391	4 / 5
2026-10-11	Unavailable	$1,433,656,391	4 / 5
2026-10-12	Unavailable	$1,433,656,391	4 / 5
2026-10-13	Unavailable	$1,433,656,391	4 / 5
2026-10-14	Unavailable	$1,433,656,391	4 / 5
2026-10-15	Unavailable	$1,433,656,391	4 / 5
2026-10-16	Unavailable	$1,433,656,391	4 / 5
2026-10-17	Unavailable	$1,433,656,391	4 / 5
2026-10-18	Unavailable	$1,433,656,391	4 / 5
2026-10-19	Unavailable	$1,433,656,391	4 / 5
2026-10-20	Unavailable	$1,433,656,391	4 / 5
2026-10-21	Unavailable	$1,433,656,391	4 / 5
2026-10-22	Unavailable	$1,433,656,391	4 / 5
2026-10-23	Unavailable	$1,433,656,391	4 / 5
2026-10-24	Unavailable	$1,433,656,391	4 / 5

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Hold	Sell*
2026-05-01	6	0
2026-06-01	6	1
2026-07-01	6	1
2026-08-01	6	1
2026-09-01	6	1
2026-10-01	6	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 0 Buy / Strong Buy · 6 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain active share buybacksDirect metric needs a verified mapping
EPS near $4.38 in 2026Diluted EPS: $0.77 per share
Achieve 5.0% to 6.5% organic revenue growth in 2026Published status: Under Pressure
Maintain valuation discount to peersP/E (TTM): 10.30x

Next proof point

Oct 28, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.5%Typical daily move · historical

Downside history

-33.5%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

CONMED Corporation outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a medical-products growth business with a multi-year view tied to executing on its growth plans. The thesis is intact, with robust earnings quality and strong recent performance, though management evidence on high-growth product areas is mixed.

What's priced into CONMED Corporation

Valuation evidence is mixed: CNMD is described as cheap versus peers, while the model also shows a premium versus peers. The expectations gap is negative, and priced-in fragility is low, so the snapshot does not point to unusually fragile expectations.

What the fundamentals likely do

Near term, second-quarter organic constant-currency sales growth was 6.0%, and full-year growth guidance was updated to 5.0% to 6.5%, excluding gastroenterology products. Adjusted EPS guidance was also raised slightly, while the risk label moved from elevated to moderate. Execution evidence for the focus on high-growth, high-margin products is limited, and weakening jobs data could add pressure to cyclical names.

What CONMED Corporation hinges on

The multi-year thesis depends on CNMD sustaining its stated growth and EPS goals, and continuing to execute in its growth platforms. A reversal that cuts recently raised guidance would damage credibility; continued strength from healthcare peers such as ABT, MDT, and SYK would support the sector backdrop.