CONMED Corporation (CNMD)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		1.79	1.67	1.62	1.51	1.43	1.55	1.58	1.75	1.91	1.93	2.08	2.00	2.06	2.23	2.32	2.45	2.61	2.40	2.35	2.31
DOH	days	204.38	219.16	225.59	240.95	255.78	235.05	231.70	208.25	191.03	188.84	175.54	182.53	176.86	163.52	157.55	148.74	139.61	152.13	155.55	158.11

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.79
= 204.38

The days of inventory on hand (DOH) for Conmed Corp. have been fluctuating over the past 8 quarters. In Q1 2022, Conmed had 208.25 days of inventory on hand, which increased to 231.70 days in Q2 2022 before decreasing to 235.05 days in Q3 2022. However, in Q4 2022, the DOH increased significantly to 255.78 days.

During the first quarter of 2023, the DOH continued to rise to 240.95 days before increasing further to 225.59 days in Q2 2023. Subsequently, there was a slight decrease to 219.16 days in Q3 2023, followed by another decrease to 204.38 days in Q4 2023.

Overall, the trend in DOH for Conmed Corp. indicates some variability in the management of inventory levels over the past 2 years. It is important for the company to closely monitor and optimize their inventory management practices to ensure efficient utilization of resources and to avoid excess inventory holding costs.