Conmed downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Conmed (CNMD) to Neutral from Overweight with a price target of $70, down from $85. The company reported a “mixed bag of updates” last night as a much lower than expected guidance for 2025 overshadowed a better than expected quarter, the analyst tells investors in a research note. The firm says that while the CEO transition is a good time to set a more realistic bar for the year, Conmed’s continuous execution issues in recent years makes it difficult to give the company the benefit of the doubt ahead of another back-end loaded year. JPMorgan would like to see more consistent execution and positive estimate revisions moving forward.