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Held by 223 of 5,944 reporting institutions (92th percentile) — extremely crowded.
Data as of Q1 2026
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Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.37B 100.0% | $1.31B 100.0% | $1.24B 100.0% | $1.05B 100.0% | $1.01B 100.0% | $862.5M 100.0% | $955.1M 100.0% | $859.6M 100.0% | $796.4M 100.0% | $763.5M 100.0% |
| Cost of Revenue | $624.2M 45.4% | $574.0M 43.9% | $568.5M 45.7% | $474.2M 45.4% | $442.6M 43.8% | $402.2M 46.6% | $430.4M 45.1% | $390.5M 45.4% | $365.4M 45.9% | $355.2M 46.5% |
| Gross Profit | $750.5M 54.6% | $733.0M 56.1% | $676.2M 54.3% | $571.2M 54.6% | $568.0M 56.2% | $460.3M 53.4% | $524.7M 54.9% | $469.1M 54.6% | $431.0M 54.1% | $408.3M 53.5% |
| Research & Development | $55.9M 4.1% | $54.4M 4.2% | $52.6M 4.2% | $47.2M 4.5% | $43.6M 4.3% | $40.5M 4.7% | $45.5M 4.8% | $42.2M 4.9% | $32.3M 4.1% | $32.3M 4.2% |
| Selling, General & Admin | $592.0M 43.1% | $478.3M 36.6% | $503.0M 40.4% | $454.0M 43.4% | $414.8M 41.0% | $373.8M 43.3% | $400.1M 41.9% | $355.6M 41.4% | $351.8M 44.2% | $338.4M 44.3% |
| Total Operating Expenses | $647.9M 47.1% | $532.7M 40.8% | $555.6M 44.6% | $501.2M 47.9% | $458.3M 45.3% | $414.3M 48.0% | $445.6M 46.7% | $397.8M 46.3% | $384.1M 48.2% | $370.7M 48.5% |
| Operating Income | $102.6M 7.5% | $200.3M 15.3% | $120.6M 9.7% | $70.1M 6.7% | $109.7M 10.9% | $46.0M 5.3% | $79.1M 8.3% | $71.3M 8.3% | $46.9M 5.9% | $37.7M 4.9% |
| Interest Expense | $31.1M 2.3% | $37.3M 2.9% | $39.8M 3.2% | $28.9M 2.8% | $35.5M 3.5% | $44.1M 5.1% | $42.7M 4.5% | $20.7M 2.4% | $18.2M 2.3% | $15.4M 2.0% |
| Pretax Income | $71.1M 5.2% | $163.0M 12.5% | $80.8M 6.5% | -$70.9M -6.8% | $73.1M 7.2% | $1.6M 0.2% | $31.2M 3.3% | $50.7M 5.9% | $28.7M 3.6% | $19.4M 2.5% |
| Income Tax Expense | $24.1M 1.8% | $30.6M 2.3% | $16.4M 1.3% | $9.7M 0.9% | $10.6M 1.0% | -$7.9M -0.9% | $2.6M 0.3% | $9.8M 1.1% | -$26.8M -3.4% | $4.7M 0.6% |
| Net Income | $47.1M 3.4% | $132.4M 10.1% | $64.5M 5.2% | -$80.6M -7.7% | $62.5M 6.2% | $9.5M 1.1% | $28.6M 3.0% | $40.9M 4.8% | $55.5M 7.0% | $14.7M 1.9% |
| Per Share | ||||||||||
| EPS (Basic) | $1.52 | $4.29 | $2.10 | $-2.68 | $2.14 | $0.33 | $1.01 | $1.45 | $1.99 | $0.53 |
| EPS (Diluted) | $1.51 | $4.25 | $2.04 | $-2.68 | $1.94 | $0.32 | $0.97 | $1.41 | $1.97 | $0.52 |
| Weighted Avg Shares (Basic) | 31.0M | 30.8M | 30.7M | 30.0M | 29.2M | 28.6M | 28.3M | 28.1M | 27.9M | 27.8M |
| Weighted Avg Shares (Diluted) | 31.1M | 31.1M | 31.5M | 30.0M | 32.2M | 29.5M | 29.5M | 28.9M | 28.2M | 28.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $46.13 today, the market must believe free cash flow compounds -1.2%/yr for a decade (off $137M normalized FCF).
The market's -1.2% is more conservative than its 9-yr track record.
2-stage DCF · 0.03B shares · net debt $0
mean 108.8% · volatility σ 273% · implied rate exceeded in 6/9 yrs
Central path = implied -1.2%/yr growth; shaded band = ±1σ (273%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 16% of free cash flow, leaving room to grow it and fund buybacks. Last year: $25M dividends + $0 buybacks = $25M returned on $151M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$18M of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.20T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $916.2B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $464.4B | 111.2× | 33.2× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $252.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $202.8B | 26.4× | 17.4× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.2B | 27.5× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $147.3B | 41.3× | 30.5× | 6.0× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $116.6B | 66.0× | 11.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.1B | 16.4× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CNMD | $1.5B | 31.1× | 12.2× | 1.1× | 5.2% | 54.6% | 3.4% | 4.6% | 4.6% | — | 223 |
Peers = companies sharing CNMD's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 22th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 45.4 | 45.1 | 46.6 | 43.8 | 45.4 | 45.7 | 43.9 | 45.4 |
| Gross Profit | 54.6 | 54.9 | 53.4 | 56.2 | 54.6 | 54.3 | 56.1 | 54.6 |
| R&D | 4.9 | 4.8 | 4.7 | 4.3 | 4.5 | 4.2 | 4.2 | 4.1 |
| SG&A | 41.4 | 41.9 | 43.3 | 41.0 | 43.4 | 40.4 | 36.6 | 43.1 |
| Operating Income | 8.3 | 8.3 | 5.3 | 10.9 | 6.7 | 9.7 | 15.3 | 7.5 |
| Income Tax | 1.1 | 0.3 | -0.9 | 1.0 | 0.9 | 1.3 | 2.3 | 1.8 |
| Net Income | 4.8 | 3.0 | 1.1 | 6.2 | -7.7 | 5.2 | 10.1 | 3.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CNMD: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.