BofA lowered the firm’s price target on Conmed (CNMD) to $52 from $65 and keeps a Neutral rating on the shares after the company said it will exit its gastroenterology product lines. The exit is accretive to gross margins but dilutive to earnings in 2026, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNMD:
- Conmed’s Strategic Exit from Gastroenterology: Hold Rating Amid Portfolio Optimization and Financial Adjustments
- Roth Capital healthcare analyst holds an analyst/industry conference call
- Midday Fly By: Netflix to buy Warner Bros., HP Enterprise posts mixed Q4
- Conmed Exits Gastroenterology Products to Focus on Core Markets
- Conmed to conclude distribution agreement with W. L. Gore & Associates