Conmed price target lowered to $98 from $107 at Wells Fargo

Wells Fargo lowered the firm’s price target on Conmed to $98 from $107 and keeps an Equal Weight rating on the shares. Wells notes Conmed delivered Q4 results on the top- and bottom-line that were below expectations. 2024 guidance was set with 8%-10% revenue growth and assumes a worst case estimate for AirSeal competition, Wells says.