Conmed price target lowered to $68 from $80 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Conmed (CNMD) to $68 from $80 and keeps an Overweight rating on the shares. The firm notes the company reported Q2 results that beat on both the top and bottom lines. Management narrowed the range on its revenue guide but, encouragingly, raised its adjusted EPS guidance. Piper views the revenue guide as further conservatism from management as they continue their top-line turnaround efforts.