Here's Why Conmed (CNMD) is a Strong Value Stock

Core Insights - Zacks Premium provides tools for investors to enhance their stock market engagement and confidence, including daily updates, research reports, and stock screens [1][2] Zacks Style Scores - Zacks Style Scores are indicators that assist investors in selecting stocks likely to outperform the market within 30 days, rated from A to F based on value, growth, and momentum characteristics [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [4][5][6][7] Value Score - The Value Score identifies attractive and discounted stocks using various financial ratios, appealing to value investors [4] Growth Score - The Growth Score emphasizes a company's financial health and future outlook, focusing on projected and historical earnings, sales, and cash flow [5] Momentum Score - The Momentum Score helps investors capitalize on price trends, utilizing factors like recent price changes and earnings estimate shifts [6] VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for investors who utilize multiple investment strategies [7] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8][9] Stock Selection Strategy - For optimal returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B, while also considering earnings outlook changes [10][11][12] Company Spotlight: CONMED Corporation - CONMED Corporation, based in Utica, N.Y., specializes in surgical instruments and devices for minimally invasive procedures, employing approximately 3,600 individuals [13] - Currently rated 3 (Hold) by Zacks, CONMED has a VGM Score of A and a Value Style Score of A, with a forward P/E ratio of 18.32, indicating strong valuation metrics [14] - Recent earnings estimates for fiscal 2024 have been revised upward, with the Zacks Consensus Estimate increasing by $0.04 to $4.03 per share, alongside an average earnings surprise of 3.7% [14] - Given its solid Zacks Rank and favorable Style Scores, CONMED is recommended for investors' consideration [15]