Conmed slips after Needham downgrade

ReutersJun 12, 2025 2:06 PM

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Shares of medical tech firm Conmed CNMD.N slip 3.4% to $54.99

Brokerage Needham downgrades rating to "hold" from "buy", saying company's long-term growth rate has decreased, meaning slower EPS growth with debt levels limiting its ability to expand new growth drivers or repurchase shares

Needham says it defended CNMD for trading at substantial discount to peers but its price-to-earnings ratio nearing that of peers led to rating cut

Average rating of six analysts is "hold"; median PT is $61 - data compiled by LSEG

As of last close, CNMD down 16.8% YTD

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