CONMED (CNMD) Stock Forecast & Price Target

Conmed Corp is witnessing robust growth in its high-demand product segments, with significant double-digit growth reported for the Foot & Ankle category, despite previous supply constraints. The introduction of the FDA-approved BioBrace rotator cuff repair device, slated for a full release in the third quarter of 2025, is expected to further enhance revenue potential. Management exhibits a prudent revenue outlook, suggesting a positive trajectory for revenue growth in the latter half of the year, indicating a successful turnaround in top-line performance.

Conmed Corp has experienced a significant decline in its stock price, down approximately 27% year-to-date, which reflects ongoing challenges in its turnaround efforts. The company's projected price target was lowered to $68, primarily due to recent market pullbacks and a valuation based on approximately 15 times the earnings per share estimate for fiscal year 2025. Additionally, capital weakness, particularly in international markets, is attributed to challenging year-over-year comparisons rather than a reduction in hospital capital budgets, indicating underlying operational issues that may hinder future growth.