Seaport Global Securities Downgrades Colfax Corporation (CFX) to Neutral

Seaport Global Securities analyst Walt Liptak downgraded Colfax Corporation (NYSE: CFX) from Buy to Neutral.

The analyst commented, "In our view, CFX's 2022 outlook has become more complex due to the potential COVID-19 impact on the MedTech segment. Zimmer Bio (ZBH) reported a worse than expected Q4:21, and lowered the 2022 outlook for a more difficult Q4:21 and January 2022, related to fewer elective surgeries and hospital staffing shortages. We are lowering our 2022 EPS estimate to $2.42 (from $2.80; consensus $2.56). Our revised 2022 EPS estimate is due to the negative read thru from ZBH's (reported February 7, 2022). We are fine-tuning our FabTech welding outlook. We are initiating a 2023 EPS estimate of $2.53 (consensus $2.86). We are lowering our rating to Neutral (from Buy) due to the negative read thru from ZBH."

For an analyst ratings summary and ratings history on Colfax Corporation click here. For more ratings news on Colfax Corporation click here.

Shares of Colfax Corporation closed at $41.18 yesterday.

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