Piper Jaffray Reiterates Neutral, $31 PT on CONMED

Piper Jaffray maintains its Neutral rating and $31 price target on CONMED Corp.

as top-line growth for the company is driven by new product launches. Piper Jaffray says, “The company has had a number of successful launches this year that have a positive impact on top-line growth, such as Sequent and continued growth in SRS. Management plans to continue this trend through additional product launches in 2H12 to drive the overall sales growth into the mid-to-upper single digits.” CNMD closed at $26.29 per share on Wednesday.