Conmed price target lowered to $95 from $100 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Conmed to $95 from $100 and keeps an Overweight rating on the shares. The firm notes Conmed reported Q1 2024 results that beat slightly on the top- and bottom-line. The General Surgery business drove all the upside on the top-line in the quarter. Piper also highlights that management lowered guidance for the year due to FX, but it is essentially unchanged when adjusting for this.