Conmed (CNMD) operates in highly competitive markets against competitors that are much larger, technically competent and possess substantially more assets.

Additionally, many of these competitors offer a range of products not matched by Conmed, which may make Conmed’s offerings less attractive to surgeons, hospitals and group purchasing organizations that are trying to reduce the number of vendors they do business with. In the second quarter, earnings per share were 17 cents, compared to the Zacks Consensus Estimate of 16 cents and the year-ago earnings of 43 cents.

We have an Underperform rating on Conmed with a target price of $18.

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