Conmed slips after Needham downgrade

Conmed

12/06/2025 15:06

Updates shares

** 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

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))