NYSE: CNMD · Medical Devices
CONMED (CNMD) fair value and price range
As of 3 Oct 2026, Faircurve's model values CONMED (CNMD) at $57.63 a share. The stock last closed at $46.32, which puts the model's fair value 24.4% above the price. The model grades the evidence behind this valuation as low, so no verdict is shown. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It does not say how likely the fair value is to be right.
Revalued . Price is the close of 2 Oct 2026. CONMED Corporation.
Faircurve Insights · 3 Oct 2026
CONMED Corporation functions as a medical technology enterprise, specializing in the global development, production, and distribution of surgical instruments and related apparatus for a variety of surgical procedures.
On 3 Oct 2026, Faircurve's model gave a fair value of $57.63 a share, the midpoint of 2,000 simulations. The previous run on 26 Sep 2026 gave $56.50, so the fair value moved +2.0%. The calibrated range over 63 trading days is $48.08 to $69.87, built from the fair value, since there is no live options data for the stock, and calibrated weekly against realised prices, which held the price 60% of the time. The model grades the evidence behind this valuation as low.
The overall quality score is 56 out of 100 against comparable companies. The model compares CONMED Corporation with Tandem Diabetes Care, Inc., Artivion, Inc., Enovis Corporation, Integra LifeSciences Holdings Corporation, UFP Technologies, Inc., and Cytek Biosciences, Inc. Around the last 8 earnings reports, moves measured from the close before each report to the close after it were +6.2%, -0.4%, -5.7%, -3.3%, +1.7%, -8.1%, -7.6%, and +5.5%.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give CNMD?
The calibrated range for CNMD over 63 trading days is $48.08 to $69.87. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,809 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The price is below this range. For names with fair value 15 to 30% above price, the calibrated range has held the price 50% of the time over 63 trading days, and 48% ended below it; the typical move was +3.7%.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $26.04 to $105.11. In 60% of the simulations the fair value came out above the price the model ran on.
How does CNMD score on business quality?
CONMED's overall quality score is 56 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 51 | 5.5%ROIC | 1.0% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 94 | 2.38xFCF / net income | |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 33 | 5.2%Revenue growth, trailing | 10.8% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 96 | 3.1%Net buybacks / market value | 0.0% |
| Balance sheetNet debt to EBITDA and interest coverage. | 19 | 4.43xNet debt / EBITDA | 3.56x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 42 | 5.6 ptsEBITDA margin downside volatility, 5y | 4.8 pts |
How does CNMD compare with similar companies?
The companies in medical devices closest to CONMED in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| TNDM Tandem Diabetes Care, Inc. | $16.50 | $20.57 | +24.7% | Undervalued |
| AORT Artivion, Inc. | $22.31 | $26.81 | +20.2% | Undervalued |
| ENOV Enovis Corporation | $17.77 | $23.09 | +29.9% | Undervalued |
| IART Integra LifeSciences Holdings Corporation | $12.68 | $15.96 | +25.9% | Undervalued |
| INSP Inspire Medical Systems, Inc. | $69.97 | $70.18 | +0.3% | Low evidence grade |
| UFPT UFP Technologies, Inc. | $300.70 | $278.76 | -7.3% | Fairly valued |
| AHCO AdaptHealth Corp. | $5.60 | $5.55 | -0.9% | Low evidence grade |
| CTKB Cytek Biosciences, Inc. | $5.87 | $7.27 | +23.9% | Undervalued |
When does CNMD report earnings, and how has the stock reacted?
CONMED's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
Options prices on 29 Sep 2026 imply a move of about 11.2% in either direction through the nearest expiry, about 51 days out, a window that includes the report. That is the size the market is pricing, not a direction.
How CNMD moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 5.6%.
| Report date | Two session move |
|---|---|
| 29 Jul 2026 | +6.2% |
| 29 Apr 2026 | -0.4% |
| 28 Jan 2026 | -5.7% |
| 5 Nov 2025 | -3.3% |
| 30 Jul 2025 | +1.7% |
| 30 Apr 2025 | -8.1% |
| 5 Feb 2025 | -7.6% |
| 30 Oct 2024 | +5.5% |
CONMED at a glance
CONMED Corporation functions as a medical technology enterprise, specializing in the global development, production, and distribution of surgical instruments and related apparatus for a variety of surgical procedures.
- Market value
- $1.4B
- Sector
- Healthcare
- Industry
- Medical Devices
- Revenue expected, next twelve months
- $1.4B
- Consensus revenue growth, next fiscal year
- -0.6%
- Analysts with estimates
- 4
- Beta to the US market
- 0.64
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices CONMED on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for CNMD was $56.50. As of 3 Oct 2026 it is $57.63, a change of +2.0%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about CONMED's valuation
Is CONMED stock undervalued or overvalued?
Faircurve's model puts CNMD's fair value at $57.63 a share against a last close of $46.32, as of 3 Oct 2026. The model grades the evidence behind this valuation as low, so no verdict is shown. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It does not say how likely the fair value is to be right.
What is CNMD's fair value?
$57.63 a share as of 3 Oct 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $26.04 to $105.11.
What price range does the model give CNMD?
$48.08 to $69.87 over 63 trading days. Ranges built this way held the price 60% of the time across 4,809 past valuations, refreshed 3 Oct 2026.
When does CONMED report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has CNMD moved on past earnings reports?
Across its last 8 reports the median two session move was 5.6%, ignoring direction. The largest was -8.1% around the report of 30 Apr 2025.
How confident is the model in this valuation?
The model's evidence grade for CNMD is low. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.