Fact based stock research
CONMED (NasdaqGS:CNMD)

US2074101013

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

CONMED stock research in summary

conmed.com

ANALYSIS: With an Obermatt Combined Rank of 78 (better than 78% compared with investment alternatives), CONMED (Health Care Equipment, USA) shares have much better financial characteristics than comparable stocks. Shares of CONMED are a good value (attractively priced) with a consolidated Value Rank of 97 (better than 97% of alternatives) but show below-average growth (Growth Rank of 45), and are riskily financed (Safety Rank of 29), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 78, is a strong buy recommendation based on CONMED's financial characteristics. As the company CONMED's key financial metrics exhibit good value (Obermatt Value Rank of 97) but low growth (Obermatt Growth Rank of 45) and risky financing practices (Obermatt Safety Rank of 29), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 97% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	97
Growth Rank	45
Safety Rank	29
Combined Rank	78

Country	USA
Industry	Health Care Equipment
Index	Dividends USA, D.J. US Medical
Size class	Large

This stock has achievements: Top 10 Stock.

14-Nov-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: CONMED

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	67	75	67	97
GROWTH
GROWTH	57	53	79	45
SAFETY
SAFETY	21	15	1	29
SENTIMENT
SENTIMENT	n/a	46	56	^new
360° VIEW
360° VIEW	n/a	34	54	^new

Most recent update of the stock research: 14-Nov-2024. Financial reporting date used for calculating ranks: 30-Jun-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better CONMED is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	67	75	67	97
GROWTH
GROWTH	57	53	79	45
SAFETY
SAFETY	21	15	1	29
COMBINED
COMBINED	38	34	48	78

Last update of combined financial performance: 14-Nov-2024. Stock analysis on combined financial performance: The higher the rank of CONMED the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 97 (better than 97% compared with alternatives) for 2024, CONMED shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for CONMED. Price-to-Sales is 63 which means that the stock price compared with what market professionals expect for future sales is lower than for 63% of comparable companies, indicating a good value for CONMED's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 78% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 59. Compared with other companies in the same industry, dividend yields of CONMED are expected to be higher than for 92% of all competitors (a Dividend Yield rank of 92). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 97, is a buy recommendation based on CONMED's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in CONMED based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	58	63	56	63
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	44	29	34	78
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	41	52	46	59
DIVIDEND YIELD
DIVIDEND YIELD	73	90	83	92
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	67	75	67	97

Last update of Value Rank: 14-Nov-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of CONMED; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 45 (better than 45% compared with alternatives), CONMED shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four metrics below average for CONMED. While Profit Growth has a good rank of 70, as professionals currently expect the company to grow its profits more than 70% of its competitors, all other growth indicators are below market averages. Sales Growth has a rank of 48, which means that currently professionals expect the company to grow less than 52% of its competitors, while Capital Growth has a rank of 27 and Stock Returns have been below market median, with a rank of 21 (79% of alternative investments were better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 45, is a hold recommendation for growth and momentum investors. While revenue growth and capital growth are good growth momentum indicators, profit is less reliable, because profits may increase due to cost-cutting measures which typically indicate negative growth momentum. "You can save a dollar only once" is the saying about such situations. Growth Investors should look at company priorities closely if they are interested in growth, because the increase in profits is not usually an indicator of growth, and stock prices have been below market, too. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	43	35	44	48
PROFIT GROWTH
PROFIT GROWTH	22	75	89	70
CAPITAL GROWTH
CAPITAL GROWTH	n/a	25	39	27
STOCK RETURNS
STOCK RETURNS	82	83	85	21
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	57	53	79	45

Last update of Growth Rank: 14-Nov-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of CONMED.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 29 (better than 29% compared with alternatives), the company CONMED has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of CONMED is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for CONMED. Refinancing is at 51, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 51% of its competitors. Liquidity is also good at 61, meaning the company generates more profit to service its debt than 61% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 20, which means the company has an above-average debt-to-equity ratio. It has more debt than 80% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 29 (worse than 71% compared with alternatives), CONMED has a financing structure that is riskier than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and CONMED could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with CONMED and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	22	23	14	20
REFINANCING
REFINANCING	67	25	19	51
LIQUIDITY
LIQUIDITY	21	53	53	61
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	21	15	1	29

Last update of Safety Rank: 14-Nov-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of CONMED and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	48	37	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	23	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	54	48	^new
MARKET PULSE
MARKET PULSE	n/a	81	86	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	46	56	^new

Last update of Sentiment Rank: 14-Nov-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for CONMED.
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