Needham & Company Maintains a 'Buy' on CONMED (CNMD); Adjusting Numbers on Mixed Qtr

Needham & Company maintains a 'Buy' on CONMED (NASDAQ: CNMD) price target of $30.00 (from $35.00).

Analyst, Dalton Chandler, said, "This was a mixed quarter with Single Use products performing well, up 7.5% Y/Y and up 7.8% in constant currency, but not well enough to offset the 10.7% decline (10.3% in constant currency) in capital equipment sales. Of the six reporting segments only Arthroscopy and Endosurgery beat our revenue forecast and only those two had positive Y/Y revenue comparisons." (FY13 EPS estimate from $2.06 to $1.89)

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

Shares of CONMED closed at $25.85 yesterday.

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