Conmed Q2 sales, adjusted profit beat on organinc platform growth

Overview

• U.S. medical device maker's Q2 sales rose 0.3%, beating analyst expectations

• Adjusted EPS for Q2 climbed 20% and beat analyst expectations

• Company updated 2026 guidance after organic growth in core surgery lines

Outlook

• CONMED sees 2026 net sales between $1.358 bln and $1.373 bln

• Company expects 2026 adjusted diluted EPS of $4.48 to $4.60

• CONMED updates guidance to reflect second qtr performance and outlook for second half

Result Drivers

• PORTFOLIO OPTIMIZATION - Co said organic sales growth was driven by exits from GI product lines as part of its portfolio optimization strategy

• GROWTH PLATFORMS - Year-over-year organic growth in Orthopedic Surgery and General Surgery lines attributed to focus on AirSeal, Buffalo Filter, and BioBrace platforms

• TARIFF REFUNDS - Q2 adjusted EPS included a $0.21 per share benefit from IEEPA tariff refunds

Company press release: ID:nBw43Y2CWa

Key Details

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 $39.00, about 11.9% below its July 28 closing price of $44.25

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads

• July 29 - Integra LifeSciences Q2 revenue slightly beats, adjusted EPS tops estimates

• July 29 - Bausch + Lomb Q2 revenue beats on surgical segment growth; lifts outlook

• July 29 - Boston Scientific trims annual profit forecast on softer Watchman device demand

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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.)