Conmed Q3 adjusted EPS beats estimates
Overview
U.S. medical device maker's Q3 sales fell 0.7%, a slight miss versus analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company updated full-year guidance following portfolio changes and Q3 performance
Outlook
Conmed now sees 2026 net sales between $1.36 bln and $1.366 bln
Company raises 2026 adjusted diluted EPS guidance to $4.54-$4.61
Conmed expects 2026 organic constant currency sales growth of 5.0%-5.5%
Result Drivers
PORTFOLIO OPTIMIZATION - Co said sales decline reflected previously announced exits from GI product offerings as part of portfolio optimization strategy
PRODUCT PLATFORM GROWTH - Organic sales growth attributed to commercial traction in AirSeal, Buffalo Filter, and BioBrace product platforms, per CEO Patrick J. Beyer
INTERNATIONAL SALES STRENGTH - International sales rose 13.1% as reported, with organic constant currency growth of 13.8%
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Slight Miss* | $335.56 mln | $336.23 mln (7 Analysts) |
Q3 Adjusted EPS | Beat | $1.04 | $1.003 (7 Analysts) |
Q3 EPS | $0.66 | ||
Q3 Net Income | $19.80 mln | ||
Q3 Income from Operations | $37.14 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."
Wall Street's median 12-month price target for Conmed Corp is $45.00, about 4.7% below its October 27 closing price of $47.20
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 7 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)