Here's Why Conmed (CNMD) is a Strong Growth Stock
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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Conmed (CNMD)
Headquartered in Utica, N.Y., CONMED Corporation is a major medical products manufacturer specializing in surgical instruments and devices for minimally invasive procedures and monitoring. CONMED has roughly 3,600 employees and several manufacturing facilities.
CNMD is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of A. Earnings are expected to grow 15.7% year-over-year for the current fiscal year, with sales growth of 5.2%.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $3.99 per share. CNMD boasts an average earnings surprise of 4.3%.
On a historic basis, Conmed has generated cash flow growth of 8.4%, and is expected to report cash flow expansion of 16.8% this year.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, CNMD should be on investors' short lists.
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CONMED Corporation (CNMD) : Free Stock Analysis Report