CONMED (CNMD) Valuation Review as It Exits Gastroenterology and Refocuses on Core Growth Areas

CONMED (CNMD) is reshaping its portfolio after deciding to exit gastroenterology, accelerating the end of its GORE VIABIL biliary stent distribution deal as Olympus takes over U.S. rights in early 2026.

See our latest analysis for CONMED.

Despite this strategic refocus, CONMED’s 1 year total shareholder return of negative 44.21 percent and year to date share price return of negative 41.8 percent suggest sentiment is still cautious, with momentum clearly fading rather than building.

If this portfolio reshuffle has you rethinking where healthcare fits in your strategy, it might be worth exploring other opportunities across healthcare stocks.

With the stock down sharply yet trading at a steep discount to both analyst targets and intrinsic value estimates, is CONMED now a mispriced turnaround story, or simply a fair reflection of slower growth ahead?

Most Popular Narrative: 27.4% Undervalued

With CONMED last closing at $39.20 against a narrative fair value of $54, the gap points to a sizable upside if the thesis holds.

The accelerating adoption of minimally invasive and robotic-assisted surgeries, combined with CONMED's strong positioning via AirSeal and BioBrace (including expanding use cases and positive clinical feedback), is poised to support durable procedure volume growth and increase recurring revenue, driving sustained top-line growth.

Read the complete narrative.

Curious how steady procedure growth, rising margins and a lower future earnings multiple can still justify a higher value than today? Unpack the full playbook behind this valuation and see which long term profit assumptions are doing the heavy lifting.

Result: Fair Value of $54 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent supply chain challenges and softer hospital capital spending could still derail margin gains and slow the anticipated recovery in earnings.

Find out about the key risks to this CONMED narrative.

Build Your Own CONMED Narrative

If you see the story differently or would rather dig through the numbers yourself, you can shape a custom view in minutes with Do it your way.

A great starting point for your CONMED research is our analysis highlighting 4 key rewards and 4 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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