CONMED (US:CNMD) ZACKSยท2024-08-01 01:05Core Viewpoint - Conmed (CNMD) reported a revenue increase of 4.6% year-over-year for Q2 2024, with earnings per share (EPS) also showing improvement compared to the previous year [1] Revenue Performance - Total revenue for the quarter was $332.1 million, slightly below the Zacks Consensus Estimate of $334.56 million, resulting in a revenue surprise of -0.74% [1] - Domestic revenue reached $185.40 million, exceeding the average estimate of $183.93 million, marking a year-over-year increase of 6.1% [3] - International revenue was $146.70 million, falling short of the average estimate of $151.07 million, with a year-over-year increase of 2.6% [4] Segment Performance - Net sales in Orthopedic Surgery were $139.50 million, below the estimated $140.96 million, reflecting a year-over-year decrease of 0.9% [5] - Net sales in General Surgery amounted to $192.60 million, surpassing the average estimate of $189.61 million, with a year-over-year increase of 8.9% [6] - Net sales for Single-use Products were $279.30 million, exceeding the average estimate of $276.53 million, representing a year-over-year increase of 5.5% [7] - Net sales in Capital Products were $52.80 million, below the estimated $58.45 million, showing a year-over-year decrease of 0.2% [8] Stock Performance - Conmed's shares have returned +3.7% over the past month, contrasting with a -0.4% change in the Zacks S&P 500 composite [8] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [8]