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7 stories mentioning CNMDUpdated 30d ago

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Wire

Update: Market Chatter: Conmed Shares Rise After Company Mulls Sale Amid Takeover Interest

(Updates to add the company's response in the third paragraph.)Conmed (CNMD) shares were up 10% in Monday trading after Bloomberg Law reported that the company is exploring options including a potential sale amid takeover interest from private equity firms.The company is working with its advisers as it weighs its options, Bloomberg said Saturday, citing people familiar with the matter.Conmed declined to comment when contacted by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $41.63, Change: $-0.78, Percent Change: -1.84%

$CNMD
Sectors

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.5%.The iShares Biotechnology ETF (IBB) fell 1.4%.In corporate news, Conmed (CNMD) shares jumped 9% after Bloomberg Law reported that the company is exploring options including a potential sale amid takeover interest from private equity firms.A federal appeals court on Monday vacated a district court's earlier dismissal of plaintiff claims that they were not warned that prenatal ingestion of Kenvue's (KVUE) Tylenol and its generic equivalents could cause autism spectrum disorder and attention-deficit/hyperactivity disorder. Kenvue shares were down 1.5%.Humana (HUM) shares gained 4.1% after Wells Fargo upgraded the company's stock to overweight from equal-weight and increased the price target to $502 From $227.Hemab Therapeutics' (COAG) HMB-002 is particularly well suited for Type 1 von Willebrand disease patients despite encouraging early data from Incyte's (INCY) latarcibart, Wedbush Securities said in a note. Hemab shares rose 3.3%, and Incyte was down 1.5%.

$CNMD$COAG$HUM$INCY$KVUE
Sectors

Sector Update: Healthcare

Healthcare stocks advanced late Monday afternoon, with the NYSE Healthcare Index rising 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.5%.The iShares Biotechnology ETF (IBB) fell 1.4%.In corporate news, Conmed (CNMD) shares jumped 9% after Bloomberg Law reported that the company is exploring options including a potential sale amid takeover interest from private equity firms.

$CNMD
Wire

Market Chatter: Conmed Shares Rise After Company Mulls Sale Amid Takeover Interest

Conmed (CNMD) shares were up 10% in Monday trading after Bloomberg Law reported that the company is exploring options including a potential sale amid takeover interest from private equity firms.The company is working with its advisers as it weighs its options, Bloomberg said Saturday, citing people familiar with the matter.Conmed did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $42.24, Change: $+3.76, Percent Change: +9.77%

$CNMD
Research

BMO Capital Initiates CONMED at Market Perform With $36 Price Target

CONMED (CNMD) has an average rating of hold and mean price target of $39, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CNMD
Wire

CONMED Lagging Medtech Peers as Growth Slows, BofA Securities Says

CONMED (CNMD) is likely to trail other medtech stocks over the next year as slower growth, stronger competition and tighter hospital budgets weigh on its outlook, although recent leadership changes could lead to a new strategy, BofA Securities said in a note Monday.The investment firm said investors returning to medtech may favor larger, higher-growth companies and smaller businesses with stronger sales potential instead of CONMED.BofA lowered its 2027 organic growth forecast to 4.5% from 5.8% and reduced its earnings estimate to $4.54 per share from $4.67, below the Wall Street estimate of $4.79.CONMED may find it harder to gain market share because larger competitors are becoming stronger across sports medicine, surgical equipment and other markets, while tighter hospital budgets could also favor larger companies that can offer wider partnerships instead of serving only as product suppliers, according to the note.BofA lowered the company's rating to underperform from neutral and kept its $40 price target.Shares of the company were down about 5.1% in Monday trading.Price: $34.12, Change: $-1.83, Percent Change: -5.09%

$CNMD
Research

BofA Downgrades CONMED to Underperform From Neutral, Keeps $40 Price Target

CONMED (CNMD) has an average rating of hold and mean price target of $39.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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