CONMED Corporation CNMD is well poised for growth in the coming quarters, backed by its broad product spectrum. A robust second-quarter 2021 performance, along with strength in General Surgery, is expected to contribute further. Stiff competition and regulatory requirements persist.Over the past year, the Zacks Rank #3 (Hold) stock has gained 44.3% compared with 22.9% growth of the industry and 33.5% rise of the S&P 500.The renowned global medical products manufacturer, specializing in surgical instruments and devices, has a market capitalization of $3.62 billion. The company projects 9.9% growth for the next five years and expects to maintain its strong performance. It has delivered an earnings surprise of 80.18% for the past four quarters, on average.Image Source: Zacks Investment ResearchLet’s delve deeper.Strong Q2 Results: CONMED’s solid second-quarter 2021 results buoy optimism. The company witnessed strong performances across its Orthopedic and General Surgery units. It saw sales growth in both its domestic and overseas markets. Per management, the company displayed strength and agility despite a tough second-quarter operating environment resulting from the impact of COVID-19 on its customers’ surgical procedure volumes. Expansion of gross margin bodes well for the stock. A raised full-year outlook also boosts our optimism.Strength in General Surgery: CONMED’s General surgery unit consists of a complete line of endo-mechanical instrumentation for minimally invasive laparoscopic and gastrointestinal procedures, a line of cardiac monitoring products as well as electrosurgical generators and related instruments. CONMED’s unique products and solutions within the General Surgery segment have been providing the company a competitive edge in the MedTech space. In the second quarter of 2021, the segment performed impressively both domestically and internationally.Per management, the AirSeal and Buffalo Filter product lines will continue to reap the benefits of the increased focus on boosting operating room safety, thereby raising our optimism.Broad Product Spectrum: CONMED offers a broad line of surgical products, which includes several new devices in the Orthopedic, Laparoscopic, Robotic, Open Surgery, Gastroenterology, Pulmonary and Cardiology sections. Products like Hi-Fi Tape and Hi-Fi suture interface represent a critical component of repair security in the rotator cuff repair space.Other notable offerings include the MicroFree platform in Orthopedics, the TruShot, the Y-Knot Pro and the CRYSTALVIEW Pump. The Anchor Tissue Retrieval bag is the most unique product under the General Surgery arm. Products like the IM8000 surgical visualization system and the Edge Ablation system hold the potential to drive the top line in future. CONMED, during the second quarter of 2021, continued to derive benefits from robust sales of both AirSeal and Buffalo Filter.DownsidesRegulatory Requirements: Substantially all of CONMED’s products are classified as class II medical devices subject to regulations of numerous agencies and legislative bodies, including the FDA and its international counterparts. As a medical devices manufacturer, the company’s manufacturing processes and facilities are subject to on-site inspection and continuing review by the FDA for compliance with the Quality System Regulations. CONMED may have future inspections at its sites and there can be no assurance that the costs of responding to such inspections will not be material.Stiff Competition: The market for CONMED’s products is highly competitive and its customers have numerous alternatives of supply. Many of the company’s competitors offer a range of products in areas other than those in which it competes, which may make such competitors more attractive to surgeons, hospitals, group-purchasing organizations and others. Additionally, many of its competitors are large, technically competent firms with substantial assets. Competitive pricing pressures or the introduction of new products by its competitors could have an adverse effect on CONMED’s revenues.Estimate TrendCONMED is witnessing a positive estimate revision trend for 2021. In the past 90 days, the Zacks Consensus Estimate for its earnings has moved 1.3% north to $3.19.The Zacks Consensus Estimate for the company’s third-quarter 2021 revenues is pegged at $256.6 million, suggesting a 7.9% improvement from the year-ago quarter’s reported number.Key PicksSome better-ranked stocks from the broader medical space are Henry Schein, Inc. HSIC, Allscripts Healthcare Solutions, Inc. MDRX and Merit Medical Systems, Inc. MMSI.Henry Schein’s long-term earnings growth rate is estimated at 13.9%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Allscripts’ long-term earnings growth rate is estimated at 9.7%. It currently carries a Zacks Rank #2.Merit Medical’s long-term earnings growth rate is estimated at 13.6%. It currently has a Zacks Rank #2. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONMED Corporation (CNMD): Free Stock Analysis Report Allscripts Healthcare Solutions, Inc. (MDRX): Free Stock Analysis Report Henry Schein, Inc. (HSIC): Free Stock Analysis Report Merit Medical Systems, Inc. (MMSI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research