8 Most Profitable Small-Cap Stocks To Invest In

2. CONMED Corporation (NASDAQ:CNMD)

Market Cap: $2.01 billion

5-year Net Income Growth: 28.45%

TTM Net Income: $98.59 million

Number of Hedge Fund Holders as of Q2 2024: 25

CONMED Corp (NASDAQ:CNMD) is a medical technology company that provides surgical devices and equipment for minimally invasive procedures. Healthcare professionals, such as surgeons, use its products in a range of specialties, such as general surgery, orthopedics, thoracic surgery, gynecology, and gastroenterology.

The company’s product line comprises general surgery and orthopedic surgery. General surgery comprises endo-mechanical instrumentation primarily used for minimally invasive gastrointestinal and laparoscopic procedures. The orthopedic surgery product line comprises lower extremities, sports medicine implants and instrumentation, specialty-powered surgical instruments, and more.

CONMED Corp (NASDAQ:CNMD) has a strong operational model, with total sales for Q2 2024 reaching $332 million. This represents a 4.5% growth as reported and 5.2% in constant currency. This performance delivered record-high quarterly sales results in line with the company’s range of expectations.

After its first full quarter in the market, the company’s US AirSeal capital unit sales grew faster than in the prior year’s quarter, with no slowdown in Airseal capital. The company’s total sales increased 5.2% in Q2, with sales in the US growing by 6.1% as compared to the prior year’s quarter and international sales increasing by 4.0%.

In addition, the company’s worldwide general surgery revenue also increased by 9.4% in the quarter, with US general surgery growing by 8.9% and international general surgery revenue increasing by 10.5%. Its surgery side of the business is thus healthy and performing in line with its historical trends. The numbers demonstrate a healthy growth company with the potential to grow in the future. It takes the second spot on our list of the 8 most profitable small-cap stocks to invest in.