CONMED (CNMD) Stock Forecast & Price Target

Conmed Corp's recent performance highlights strong growth in its key product segments, particularly with BioBrace, which is set for a full release of its FDA-approved rotator cuff repair device, indicating positive future revenue potential. The Foot & Ankle segment demonstrated resilience by achieving double-digit growth despite supply constraints, suggesting that these operational challenges may be easing. Management's conservative revenue guidance reflects a commitment to a gradual top-line improvement, underscoring confidence in ongoing performance and growth in high-demand areas such as AirSeal and Foot & Ankle.

Conmed Corp has experienced a significant decline in its stock, with shares down approximately 27% year-to-date, indicating ongoing challenges in its turnaround efforts. The company's capital weakness, particularly in the international segment, has been attributed to difficult year-over-year comparisons due to competitor product recalls and the introduction of new international distributors, rather than a reduction in hospital capital budgets. Additionally, the adjustment of the price target from $80 to $68 reflects the current valuation of around 15 times the FY'25 EPS estimate of $4.46, underscoring concerns regarding the company's financial performance and market position.