In a report released today, Robbie Marcus from J.P. Morgan maintained a Hold rating on Conmed (CNMD – Research Report), with a price target of $70.00.
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Robbie Marcus’s rating is based on a combination of factors related to Conmed’s recent performance and future outlook. Despite a better-than-expected quarter with sales in the fourth quarter of 2024 surpassing estimates and strong earnings growth, the company’s guidance for 2025 fell short of expectations. This has been attributed to ongoing supply chain challenges and competitive pressures, particularly affecting certain segments like Ortho and AirSeal.
Furthermore, external factors such as currency headwinds and potential tariff impacts add to the uncertainty surrounding Conmed’s financial performance. The CEO transition presents an opportunity to adjust expectations, but continuous execution issues in recent years have made it challenging for the company to gain confidence. Given these mixed signals and the need for consistent positive performance, Marcus has opted to downgrade Conmed to a Hold rating, with a revised price target reflecting a cautious approach towards the company’s future growth potential.
According to TipRanks, Marcus is a 5-star analyst with an average return of 11.5% and a 56.95% success rate. Marcus covers the Healthcare sector, focusing on stocks such as Becton Dickinson, Boston Scientific, and Conmed.
In another report released on January 27, Bank of America Securities also assigned a Hold rating to the stock with a $80.00 price target.