Conmed Stock Market Value
| CNMD Stock | USD 73.16 0.73 0.99% |
| Symbol | CONMED |
CONMED Price To Book Ratio
Is Health Care Equipment & Supplies space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of CONMED. If investors know CONMED will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about CONMED listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 2.14 | Dividend Share 0.8 | Earnings Share 4.22 | Revenue Per Share 41.821 | Quarterly Revenue Growth 0.04 |
The market value of CONMED is measured differently than its book value, which is the value of CONMED that is recorded on the company's balance sheet. Investors also form their own opinion of CONMED's value that differs from its market value or its book value, called intrinsic value, which is CONMED's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because CONMED's market value can be influenced by many factors that don't directly affect CONMED's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between CONMED's value and its price as these two are different measures arrived at by different means. Investors typically determine if CONMED is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CONMED's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
CONMED 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to CONMED's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of CONMED.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in CONMED on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding CONMED or generate 0.0% return on investment in CONMED over 720 days. CONMED is related to or competes with Orthopediatrics Corp, Pulmonx Corp, Si Bone, Globus Medical, Orthofix Medical, Alphatec Holdings, and LivaNova PLC. CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipme... More
CONMED Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure CONMED's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess CONMED upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.57 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 10.92 | |||
| Value At Risk | (3.84) | |||
| Potential Upside | 4.56 |
CONMED Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CONMED's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CONMED's standard deviation. In reality, there are many statistical measures that can use CONMED historical prices to predict the future CONMED's volatility.| Risk Adjusted Performance | 0.0273 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.34) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0542 |
CONMED Backtested Returns
At this point, CONMED is very steady. CONMED secures Sharpe Ratio (or Efficiency) of 0.0133, which signifies that the company had a 0.0133% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for CONMED, which you can use to evaluate the volatility of the firm. Please confirm CONMED's risk adjusted performance of 0.0273, and Mean Deviation of 1.92 to double-check if the risk estimate we provide is consistent with the expected return of 0.0328%. CONMED has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.04, which signifies a somewhat significant risk relative to the market. CONMED returns are very sensitive to returns on the market. As the market goes up or down, CONMED is expected to follow. CONMED now shows a risk of 2.47%. Please confirm CONMED total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to decide if CONMED will be following its price patterns.
Auto-correlation | -0.54 |
Good reverse predictability
CONMED has good reverse predictability. Overlapping area represents the amount of predictability between CONMED time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of CONMED price movement. The serial correlation of -0.54 indicates that about 54.0% of current CONMED price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.54 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 186.81 |
CONMED lagged returns against current returns
Autocorrelation, which is CONMED stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting CONMED's stock expected returns. We can calculate the autocorrelation of CONMED returns to help us make a trade decision. For example, suppose you find that CONMED has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
CONMED regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If CONMED stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CONMED stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CONMED stock over time.
Current vs Lagged Prices |
| Timeline |
CONMED Lagged Returns
When evaluating CONMED's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CONMED stock have on its future price. CONMED autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, CONMED autocorrelation shows the relationship between CONMED stock current value and its past values and can show if there is a momentum factor associated with investing in CONMED.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether CONMED is a strong investment it is important to analyze CONMED's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact CONMED's future performance. For an informed investment choice regarding CONMED Stock, refer to the following important reports:Check out CONMED Correlation, CONMED Volatility and CONMED Alpha and Beta module to complement your research on CONMED. For information on how to trade CONMED Stock refer to our How to Trade CONMED Stock guide.You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
CONMED technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.