CONMED (CNMD) Stock Forecast & Price Target

Conmed Corp has demonstrated strong growth, particularly with its BioBrace product line, which is poised for full release following FDA approval, indicating potential for increased market penetration in the sports medicine segment. The company's Foot & Ankle division has shown resilient double-digit growth, suggesting that recent supply constraints may be easing, thus providing confidence in sustained performance. Furthermore, management's updated revenue guidance reflects a conservative but optimistic outlook, supporting the notion of a gradual improvement in revenue growth during the second half of the year.

Conmed Corp has experienced a significant stock decline of approximately 27% year-to-date, highlighting challenges in its turnaround efforts. Additionally, the company's recent price target adjustment from $80 to $68 reflects concerns regarding its earnings potential, with projections based on a lower price-to-earnings ratio of around 15 times its fiscal year 2025 EPS estimate of $4.46. Weakness in capital sales, particularly in international markets, suggests ongoing difficulties attributed to tough year-over-year comparisons rather than a general downturn in hospital capital budgets.