CNMD
CONMED Corporation Healthcare - Medical Devices Investor Relations →
CONMED Corporation (CNMD) closed at $41.52 as of 2026-02-02, trading 48.0% below its 200-week moving average of $79.85. This places CNMD in the extreme value zone. The stock moved further from the line this week, up from -52.2% last week. The 14-week RSI sits at 44, indicating neutral momentum.
Over the past 1963 weeks of data, CNMD has crossed below its 200-week moving average 31 times. On average, these episodes lasted 20 weeks. Historically, investors who bought CNMD at the start of these episodes saw an average one-year return of +26.7%.
With a market cap of $1286 million, CNMD is a small-cap stock. Return on equity stands at 4.8%. The stock trades at 1.3x book value.
Share count has increased 5.2% over three years, indicating dilution.
Over the past 33.2 years, a hypothetical investment of $100 in CNMD would have grown to $783, compared to $2849 for the S&P 500. CNMD has returned 6.4% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been growing at a 16.7% compound annual rate, with 4 consecutive years of positive cash generation. A business generating more cash every year while trading below its 200-week moving average is exactly the kind of disconnect value investors look for.
Growth of $100: CNMD vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After CNMD Crosses Below the Line?
Across 28 historical episodes, buying CNMD when it crossed below its 200-week moving average produced an average return of +20.1% after 12 months (median +18.0%), compared to +12.4% for the S&P 500 over the same periods. 54% of those episodes were profitable after one year. After 24 months, the average return was +37.3% vs +25.3% for the index.
Each line shows $100 invested at the moment CNMD crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
CNMD has crossed below its 200-week MA 31 times with an average 1-year return of +26.7% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Aug 1988 | Jun 1989 | 42 | 22.4% | +23.8% | +3107.8% |
| Jun 1989 | Jul 1989 | 4 | 5.7% | +55.0% | +3268.2% |
| Nov 1989 | Apr 1990 | 24 | 29.2% | +66.7% | +3642.4% |
| Oct 1992 | Dec 1992 | 11 | 35.2% | +31.5% | +1745.6% |
| Mar 1993 | Sep 1994 | 79 | 43.1% | -3.3% | +1022.7% |
| Apr 1997 | Apr 1997 | 1 | 2.7% | +77.5% | +439.4% |
| Nov 1999 | Nov 1999 | 1 | 3.9% | -37.8% | +230.8% |
| Dec 1999 | Dec 1999 | 1 | 1.3% | -32.5% | +221.9% |
| Jul 2000 | Jun 2001 | 49 | 45.5% | +69.1% | +355.4% |
| Sep 2001 | Sep 2001 | 1 | 3.6% | +28.0% | +217.2% |
| Jul 2002 | Jul 2002 | 1 | 3.2% | +12.8% | +193.5% |
| Jan 2003 | Apr 2003 | 15 | 20.3% | +42.3% | +190.1% |
| Nov 2005 | Dec 2005 | 1 | 5.2% | -3.8% | +120.4% |
| Dec 2005 | Jan 2007 | 58 | 23.4% | -3.4% | +110.8% |
| Nov 2007 | Feb 2008 | 12 | 16.4% | +4.1% | +102.2% |
| Mar 2008 | May 2008 | 11 | 7.1% | -45.8% | +103.6% |
| Jun 2008 | Jul 2008 | 1 | 3.2% | -39.2% | +99.4% |
| Oct 2008 | Mar 2010 | 73 | 53.5% | -14.9% | +100.5% |
| Apr 2010 | Nov 2010 | 31 | 27.7% | +26.3% | +124.4% |
| Aug 2011 | Sep 2011 | 6 | 5.4% | +26.6% | +127.8% |
| Jan 2016 | Feb 2016 | 4 | 4.7% | +19.8% | +25.3% |
| Aug 2016 | Aug 2016 | 4 | 3.4% | +27.6% | +16.3% |
| Sep 2016 | Nov 2016 | 8 | 3.5% | +35.3% | +17.5% |
| Feb 2017 | Mar 2017 | 2 | 3.8% | +49.6% | +9.3% |
| Mar 2020 | Apr 2020 | 3 | 26.4% | +164.5% | -8.8% |
| Apr 2020 | May 2020 | 1 | 1.3% | +119.0% | -32.8% |
| Jun 2020 | Jun 2020 | 1 | 0.2% | +113.2% | -34.7% |
| Jun 2022 | Apr 2023 | 42 | 26.5% | +53.8% | -51.6% |
| Aug 2023 | Aug 2023 | 1 | 2.7% | -35.3% | -59.4% |
| Sep 2023 | Nov 2023 | 9 | 13.9% | -29.4% | -60.5% |
| Jan 2024 | Ongoing | 110+ | 52.4% | Ongoing | -60.3% |
| Average | 20 | — | +26.7% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02