CNMD

Conmed's headline growth appeared flat at $343 million in the last quarter, but organic growth actually increased by 6%, with the leading segment being the orthopedic surgery business. Growth was offset by the divestiture of the GI business; as a result, growth metrics look poor with a quant rating of F and below the sector growth. When I adjust for organic growth, impressive profitability, and a buyback story, Conmed stock looks highly undervalued below the sector multiple. and I am rating it a buy.

CNMD's 16% monthly rally is backed by stronger growth, margin gains and raised earnings guidance, but cash-flow and execution risks remain.

CONMED raised its 2026 adjusted EPS outlook after a strong second quarter, but slower organic growth and higher financing costs keep the setup mixed.

CNMD's low valuation and improved earnings outlook strengthen its appeal, but cash-flow pressure and execution risks keep the buy case measured.

CONMED's growth outlook is supported by Buffalo Filter, BioBrace and organic momentum, though slower AirSeal growth and tariffs remain key risks.

CNMD's Q2 earnings and revenues beat estimates, while margin growth and solid international sales support a higher 2026 EPS outlook.

CONMED Corporation (CNMD) Q2 2026 Earnings Call Transcript

CONMED NYSE: CNMD reported second-quarter 2026 net sales of $343.5 million, up 0.3% on a reported basis but down 0.5% in constant currency. Organic sales, which exclude the company's exited gastroenterology product offerings, rose 6% year over year and modestly exceeded management's expectations.

LARGO, Fla.--(BUSINESS WIRE)--CONMED Corporation (NYSE: CNMD) today reported financial results for the second quarter ended June 30, 2026 and updated its financial guidance for the full year ending 2026. Second Quarter 2026 Highlights(1) Sales of $343.5 million increased 0.3% year-over-year as reported and decreased 0.5% on a constant currency(2) basis. Excluding the impact of the Company's previously announced strategic exits of GI product offerings, net sales increased 6.0% on an organic cons.

CNMD's FDA-expanded AirSeal indication adds da Vinci 5 hex cannula compatibility, supporting broader use across Intuitive Surgical's robotic systems.