Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Conmed to $130 from $145 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 results that beat on the top and bottom lines entirely due to strength in its general surgery business. Conmed increased the bottom end of its 2023 guidance, now expecting sales of $1.240B-$1.260B and adjusted EPS of $3.45-$3.55.
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Read More on CNMD:
- Conmed price target lowered to $107 from $123 at Wells Fargo
- Conmed narrows FY23 adjusted EPS view to $3.45-$3.55 from $3.40-$3.55
- Conmed reports Q3 adjusted EPS 90c, consensus 83c
- CNMD Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Conmed sold 7.5M shares at 30c in U.S.-only public offering
