Conmed slips after Needham downgrade

Conmed

12/06/2025 12:34

** Medical tech firm Conmed CNMD.N slips 2.6% premarket to $55.5 after Needham downgrades to "hold" from "buy"

** Brokerage says co'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 adds that it defended CNMD for trading at substantial discount to peers but co's 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

 (Reporting by Twesha Dikshit)

 ((Twesha.Dikshit@thomsonreuters.com))