Conmed price target lowered to $107 from $123 at Wells Fargo

Wells Fargo lowered the firm’s price target on Conmed to $107 from $123 and keeps an Equal Weight rating on the shares. The firm notes Conmed delivered impressive Q3 results on the top- and bottom-line with 11.5% organic growth and 2023 guidance was tightened. Wells expects the quarter to be well-received despite some supply constraints expected to impact Q4.