Shares of medical tech company CONMED fell 4.9% in afternoon trading after BofA Securities downgraded the stock to Underperform from Neutral, citing concerns about future growth. The firm lowered its 2027 organic growth estimate for CONMED to 4.5% from 5.8% and reduced its 2027 earnings per share estimate to $4.54 from $4.67, below the market consensus of $4.79. The price target was maintained at $40.00. After the initial drop, the shares recovered some losses to trade at $34.26, down 4.7% from the previous close.
CONMED CorporationBofA downgraded CONMED to Underperform and lowered growth and EPS estimates.