Conmed downgraded to Hold from Buy at Stifel

Stifel downgraded Conmed (CNMD) to Hold from Buy with a price target of $55, down from $75. The firm cites ongoing macro-related tariff and economic uncertainty, the company’s back-end weighted 2025 guidance, and its Q1 hospital purchasing data indicates that Airseal disposables are declining year-over-year for the first time since 2020 for the downgrade. Airseal are around 18% of total company sales and remains a ‘lightning rod’ of investor concern relative to Conmed’s growth outlook and for investor psychology, the analyst tells investors in a research note.