CNMD Stock Summary and Trading Ideas (Conmed | NYSE:CNMD)

Conmed Corp is a Utica, New York-based medical equipment company that focuses on sports medicine procedures and general surgeries. The firm currently reports through two reporting units, orthopedic surgery, and general surgery. From a geographic perspective, the firm is U.S.-centric, with maximum domestic sales accounting for revenue, EMEA accounting for second place, APAC at third, and the non-U.S. Americas region driving the remaining revenue.

Conmed trades on the NYSE stock market under the symbol CNMD.

As of April 19, 2024, CNMD stock price climbed to $72.64 with 451,384 million shares trading.

CNMD has a beta of 1.17, meaning it tends to be more sensitive to market movements. CNMD has a correlation of 0.14 to the broad based SPY ETF.

CNMD has a market cap of $2.23 billion. This is considered a Mid Cap stock.

Last quarter Conmed reported $327 million in Revenue and $1.06 earnings per share. This fell short of revenue expectation by $-5 million and missed earnings estimates by -$.05.

In the last 3 years, CNMD stock traded as high as $159.11 and as low as $70.57.

The top ETF exchange traded funds that CNMD belongs to (by Net Assets): IJR, VTI, VB, IWM, VXF.

CNMD has underperformed the market in the last year with a price return of -33.9% while the SPY ETF gained +21.2%. CNMD has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -29.7% and -6.7%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

CNMD support price is $69.37 and resistance is $72.79 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CNMD stock will trade within this expected range on the day.