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Home » Stock Price Rises on Big News: Conmed looks to seal $265M Surgiquest buy, continue Wall Street honeymoon
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Stock Price Rises on Big News: Conmed looks to seal $265M Surgiquest buy, continue Wall Street honeymoon

Nov. 17, 2015
By Amanda Pedersen
The honeymoon might not be over after all for Conmed Corp. (Utica, N.Y.), which has agreed to acquire privately held Surgiquest Inc. (Milford, Conn.) for $265 million on a cash-free, debt-free basis. After Conmed's third quarter revenues came in $5 million below consensus and the company lowered its 2015 guidance, a Northland Capital Markets analyst said in a Oct. 22 report that "the honeymoon is over" for the surgical device company and lowered its price target on Conmed stock to $44 from $58.
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