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ConMed and Peers in 2018: Analyst Recommendations

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CNMD’s revenue performance in 2018

Headquartered in Utica, New York, ConMed (CNMD) currently employs 3,100 people worldwide. In 4Q17, ConMed reported total sales close to $222.6 million, which represents a YoY (year-over-year) rise of ~7.9% on a CC (constant currency) basis and 9% on a reported basis, driven by the robust uptake of its products in the US and in international geographies.

For fiscal 2017, ConMed reported total sales close to $796 million, which represents a YoY rise of ~4.3%, both on a CC and reported basis. While its Orthopedics segment contributed around 54% of its total 2017 revenues, the remaining 46% was earned through the sale of products and services categorized under its General Surgery segment.

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ConMed earned ~52% of its 2017 revenues from US markets, while the remaining 48% came from international markets. Europe contributed ~20% of the company’s 2017 revenues, while the Americas (excluding the US) and the remaining foreign markets contributed 11% and 17% of ConMed’s 2017 revenues, respectively.

Approximately 80% of the total revenues earned by ConMed in 2017, was attributable to the sale of recurring single-use products.

Analyst recommendations for ConMed

Of the five analysts covering ConMed in March 2018, two have recommended a “buy,” and three have recommended a “hold.” None of the analysts has recommended the company as “strong buy,” “sell,” or “strong sell.”

Analyst recommendations for peers

Of the 24 analysts covering Medtronic (MDT) stock in March 2018, 58.3% recommend a “buy.” About 81% of the 21 analysts covering Abbott Laboratories (ABT) stock recommend a “buy,” and 70.4% of the 27 analysts tracking Stryker (SYK) recommend a “buy.”

In the next part of this three-part series, we’ll discuss the revenue growth prospects of Conmed in greater detail.

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