CNMD
CONMED Corporation
CNMD has the edge over UNH overall, supported by stronger valuation and stronger fundamentals.
UNH
UnitedHealth Group Incorporated
UNH has lower modeled downside risk, despite its lower overall score.
CNMD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Weak |
CNMD's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is weak.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
CNMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $50.48 | — |
| Cheap | 17x | $41.30 | -18% |
| Current | 21x | $50.48 | — |
| Fair | 36x | $86.56 | +71% |
| Expensive | 76x | $185 | +266% |
Historical ranges are pointers, not guarantees.
CNMD has the edge over UNH in the historical PE scenario, which offers more potential upside but is not a forecast.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
CNMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect CNMD's earnings to grow, with its revenue and profitability holding steady.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
UNH has the edge over CNMD on the outlook, with more favorable profitability expectations.
CNMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.63 | +91% |
| Q3 2026 | $2.42 | +17% |
| Q2 2026 | $1.85 | -48% |
| Q1 2026 | $1.77 | -54% |
| Q4 2025 | $1.51 | -64% |
| Q3 2025 | $2.06 | -51% |
| Q2 2025 | $3.54 | +13% |
| Q1 2025 | $3.81 | +46% |
| Q4 2024 | $4.25 | +108% |
CNMD's earnings per share have fallen from their peak: $2.42 over the past year, against $4.25 in late 2024.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
CNMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $335.6M | -0.7% |
| Q2 2026 | $343.5M | +0.3% |
| Q1 2026 | $317M | -1.3% |
| Q4 2025 | $373.2M | +7.9% |
| Q3 2025 | $337.9M | +6.7% |
| Q2 2025 | $342.3M | +3.1% |
| Q1 2025 | $321.3M | +2.9% |
| Q4 2024 | $345.9M | +5.8% |
CNMD's revenue grew through 2024 and has held roughly level since: $336M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +7.6 points |
| Q2 2026 | 11% | -0.6 points |
| Q1 2026 | 8% | +3 points |
| Q4 2025 | 9.8% | -5.4 points |
| Q3 2025 | 3.5% | -17 points |
| Q2 2025 | 11% | -3 points |
| Q1 2025 | 5% | -6.2 points |
| Q4 2024 | 15% | -0.2 points |
CNMD has the edge over UNH on profitability, with a higher operating margin.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH has the edge over CNMD on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH's operating margin was 5.8% last quarter, up 2 points from the same quarter a year ago.
CNMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $46.7M | -3.7% |
| Q2 2026 | $34.2M | +46% |
| Q1 2026 | $10.6M | -72% |
| Q4 2025 | $41.2M | +4.9% |
| Q3 2025 | $48.5M | +1.5% |
| Q2 2025 | $23.4M | -41% |
| Q1 2025 | $37.8M | +39% |
| Q4 2024 | $39.3M | -24% |
CNMD generated $133M in free cash flow over the past year, down 11% from the year before.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH has the edge over CNMD on cash flow, with more consistent year-over-year improvement.
CNMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +8K shares |
| 1 year | -3% | -925K shares |
| 3 years | -4.9% | -1.6M shares |
| 5 years | -6.3% | -2M shares |
| Available history | +2.1% | +630K shares |
CNMD has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6.2M |
| Q2 2026 | $6.2M |
| Q1 2026 | $37M |
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has 902M diluted shares, down 0.7% from a year ago, with $5B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
CNMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.3x | High |
| Q2 2026 | 5.2x | High |
| Q1 2026 | 5.3x | High |
| Q4 2025 | 5.1x | High |
| Q3 2025 | 4.8x | High |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 3.7x | Elevated |
| Q4 2024 | 3.5x | Elevated |
CNMD's net debt is about 4.3 years of its operating earnings (EBITDA), down from 4.8 years a year ago.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH has the edge over CNMD on leverage, with a lower net debt burden relative to earnings.
CNMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.0 | Neutral |
| Stochastic | 49.0 | Neutral |
CNMD's weekly RSI is 59 (neutral) and its Stochastic is 49 (neutral).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
CNMD PE vs Healthcare Sector
| Metric | CNMD | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 26x | 19% below |
| PE % | 26 | 29 | 3 pts below |
CNMD has the edge over UNH on valuation relative to its sector.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
CNMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.3 | 6.7% above |
| 20 week MA | $46.2 | 9.2% above |
| 50 week MA | $41.7 | 21% above |
| 100 week MA | $48.5 | 4.2% above |
| 200 week MA | $70.6 | 29% below |
CNMD has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 29% below its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 9.3% below its 200-week average.
CNMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $110.5 | $112.8 | +2.1% |
| 2021 | $112.8 | $142.0 | +26% |
| 2022 | $142.0 | $86.8 | -39% |
| 2023 | $86.8 | $109.5 | +26% |
| 2024 | $109.5 | $70.6 | -36% |
| 2025 | $70.6 | $40.8 | -42% |
| 2026 YTD | $40.8 | $50.5 | +24% |
CNMD has the edge over UNH on returns for 2026, with the stronger performance.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has finished three years in a row lower, and it's up 22% so far in 2026.