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CNMD

Conmed

$116.58

3.24 (2.86%)

05:53
11/26/19
11/26
05:53
11/26/19
05:53

Conmed downgraded to Hold from Buy at Needham

Needham analyst Mike Matson downgraded Conmed to Hold from Buy without a price target. The analyst believes the company can sustain 6%-8% revenue growth but he does not expect further revenue growth acceleration. Further, consensus revenue and earnings estimates leave less room for upside, Matson tells investors in a research note. The analyst also thinks that an acquisition of Conmed is unlikely at its current valuation and that management might choose to use an equity offering to repay debt. As such, he now believes the stock is fairly valued.

CNMD Conmed
$116.58

3.24 (2.86%)

08/22/19
PIPR
08/22/19
UPGRADE
PIPR
Overweight
Conmed upgraded to Overweight from Neutral at Piper Jaffray
08/22/19
PIPR
08/22/19
UPGRADE
Target $110
PIPR
Overweight
Conmed upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Matt O'Brien upgraded Conmed to Overweight from Neutral and raised his price target to $110 from $88, saying he has "foolishly" remained on the sidelines for several years due to the combination of heavy debt burden and a lack of operating margin leverage. However, O'Brien tells investors in a research note that he has traveled with management recently, and has seen the strong flow of organic new products, along with a better appreciation of the assets Conmed has added to the business, and says that he is confident despite missing a big move in the name in recent quarters, there is still a long way for the stock to go.
10/04/19
NEED
10/04/19
NO CHANGE
Target $111
NEED
Buy
Conmed price target raised to $111 from $101 at Needham
Needham analyst Mike Matson raised his price target on Conmed to $111 and kept his Buy rating, saying the company's turnaround appears to be "complete". The analyst expects Conmed's Q3 results to top earnings and revenue expectations thanks to the upside from its new products AirSeal and Buffalo Filter, further proving that the company can sustain high-single digit revenue growth and double-digit EPS growth.
11/12/19
JPMS
11/12/19
INITIATION
Target $136
JPMS
Overweight
Conmed initiated with an Overweight at JPMorgan
JPMorgan analyst Robbie Marcus initiated coverage of Conmed with an Overweight rating and December 2020 price target of $136. As a smaller participant in the orthopedic and general surgery markets, the breadth of Conmed's portfolio and its focus gives it a competitive advantage, Marcus tells investors in a research note. He believes the company should drive sustainable mid-to-high-single digit organic sales growth and double-digit earnings growth.

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