CNMD
CONMED Corporation Healthcare - Medical Devices Investor Relations →
CONMED Corporation (CNMD) closed at $46.30 as of 2026-07-31, trading 35.8% below its 200-week moving average of $72.10. This places CNMD in the extreme value zone. The stock moved further from the line this week, up from -40.9% last week. The 14-week RSI sits at 64, indicating neutral momentum.
Over the past 14 weeks, up-weeks have carried more volume than down-weeks (1.53 buyers-vs-sellers ratio). When trading picks up, it's more often on days the price is rising — buyers are showing more interest than sellers.
Over the past 1988 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 $1387 million, CNMD is a small-cap stock. The company generates a free cash flow yield of 9.5%, which is notably high. Return on equity stands at 5.5%. The stock trades at 1.3x book value.
This stock also meets the Yartseva multibagger criteria as a small-cap with strong free cash flow yield and reasonable book value.
Over the past 33.6 years, a hypothetical investment of $100 in CNMD would have grown to $874, compared to $3098 for the S&P 500. CNMD has returned 6.7% annualized vs 10.8% for the index, underperforming the broader market over this period.
Free cash flow has been growing at a 135.3% compound annual rate, with 4 consecutive years of positive cash generation. A business generating more cash every year while trading below its 200-week moving average is exactly the kind of disconnect value investors look for.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
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.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. Between earnings dates, FCF is constant — so the score is purely a function of stock price. The levels below show at what prices CNMD would reach each dislocation threshold.
Dislocation Price Levels
Prices where CNMD's Bean Score would hit each σ threshold. Valid until next earnings report (date TBD — last report: 2026-03-31).
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $30.17 | Unusually cheap — potential buy zone |
| Value | +1σ | $32.42 | Cheap vs. own history |
| Fair Value | +0σ | $35.02 | Historical mean behavior |
| Expensive | -1σ | $38.08 | Expensive vs. own history |
| Deep Expensive | -2σ | $41.72 | Unusually expensive — potential trim zone |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are reference points for identifying potential swing trade opportunities, not buy/sell signals. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from CNMD's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. They are starting points for research, not buy or sell signals. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
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% | +3477.1% |
| Jun 1989 | Jul 1989 | 4 | 5.7% | +55.0% | +3655.9% |
| Nov 1989 | Apr 1990 | 24 | 29.2% | +66.7% | +4073.3% |
| Oct 1992 | Dec 1992 | 11 | 35.2% | +31.5% | +1958.0% |
| Mar 1993 | Sep 1994 | 79 | 43.1% | -3.3% | +1152.0% |
| Apr 1997 | Apr 1997 | 1 | 2.7% | +77.5% | +501.6% |
| Nov 1999 | Nov 1999 | 1 | 3.9% | -37.8% | +268.9% |
| Dec 1999 | Dec 1999 | 1 | 1.3% | -32.5% | +259.0% |
| Jul 2000 | Jun 2001 | 49 | 45.5% | +69.1% | +407.8% |
| Sep 2001 | Sep 2001 | 1 | 3.6% | +28.0% | +253.7% |
| Jul 2002 | Jul 2002 | 1 | 3.2% | +12.8% | +227.3% |
| Jan 2003 | Apr 2003 | 15 | 20.3% | +42.3% | +223.5% |
| Nov 2005 | Dec 2005 | 1 | 5.2% | -3.8% | +145.8% |
| Dec 2005 | Jan 2007 | 58 | 23.4% | -3.4% | +135.1% |
| Nov 2007 | Feb 2008 | 12 | 16.4% | +4.1% | +125.5% |
| Mar 2008 | May 2008 | 11 | 7.1% | -45.8% | +127.0% |
| Jun 2008 | Jul 2008 | 1 | 3.2% | -39.2% | +122.4% |
| Oct 2008 | Mar 2010 | 73 | 53.5% | -14.9% | +123.6% |
| Apr 2010 | Nov 2010 | 31 | 27.7% | +26.3% | +150.2% |
| Aug 2011 | Sep 2011 | 6 | 5.4% | +26.6% | +154.1% |
| Jan 2016 | Feb 2016 | 4 | 4.8% | +19.8% | +39.7% |
| Aug 2016 | Aug 2016 | 4 | 3.4% | +27.6% | +29.7% |
| Sep 2016 | Nov 2016 | 8 | 3.2% | +35.2% | +30.4% |
| Feb 2017 | Mar 2017 | 2 | 3.8% | +49.6% | +21.9% |
| Mar 2020 | Apr 2020 | 3 | 26.4% | +164.5% | +1.7% |
| Apr 2020 | May 2020 | 1 | 1.3% | +119.0% | -25.0% |
| Jun 2020 | Jun 2020 | 1 | 0.2% | +113.2% | -27.2% |
| Jun 2022 | Apr 2023 | 42 | 26.5% | +53.7% | -46.2% |
| Aug 2023 | Aug 2023 | 1 | 2.7% | -35.3% | -54.8% |
| Sep 2023 | Nov 2023 | 10 | 13.9% | -30.7% | -56.0% |
| Jan 2024 | Ongoing | 135+ | 55.7% | Ongoing | -55.7% |
| Average | 20 | — | +26.7% | — |
Frequently Asked Questions
Is CNMD below its 200-week moving average?
Yes. As of 2026-07-31, CONMED Corporation (CNMD) is trading 35.8% below its 200-week moving average of $72.10. The current price is $46.30.
What is CNMD's 200-week moving average price?
CONMED Corporation's 200-week moving average is $72.10 as of 2026-07-31. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when CNMD drops below its 200-week moving average?
CNMD has crossed below its 200-week moving average 31 times in our data. On average, buying at that moment produced a one-year return of +26.7%. These dips have historically been decent entry points. These episodes lasted 20 weeks on average.
Is CNMD a good value right now?
Here's what our data says about CNMD as of 2026-07-31: The stock is below its 200-week moving average, which is the starting point for our analysis. The 14-week RSI is 64. Free cash flow yield is 9.5%. Return on equity is 5.5%. Price-to-book is 1.3x. This is not a buy or sell recommendation — always do your own research.
How does CNMD compare to the S&P 500?
Over the past 33.6 years, $100 invested in CNMD would have grown to $874, compared to $3098 for the S&P 500. That's 6.7% annualized vs 10.8% for the index. CNMD has underperformed the broader market over this period.
Does CNMD pay a dividend?
Yes. CONMED Corporation currently pays a dividend yield of 170.00%.
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 week of 2026-07-31