Conmed stock jumped 10% Monday to $42.41 a share following a report that the medical technology company is considering a sale.
The medtech company has been working with financial advisors to consider strategic options -- including selling -- to address acquisition interest from several private-equity firms, Bloomberg Law reported Friday.
Conmed shares jumped 26% over the last three trading days, marking their strongest three-day stretch since April 9, 2020.
The stock remains 73% below its all-time closing high of $157.03, which it reached in November 2021.
A Conmed representative declined to comment to Barron's on the published report, citing a company policy against "commenting upon unsubstantiated rumors concerning prospective developments or transactions."
JPMorgan analysts are hopeful Conmed will hit an upward trajectory after a tough few years of supply chain disruptions and product exits, according to a note on Monday.
Domestic revenue fell 5.8% year-over-year in the first quarter, driven in part by a $15.2 million sales drop after the company discontinued certain gastroenterology products.
But JPMorgan says that, despite troubling fundamentals, the medtech's free cash flow yield and "clean financials" position it well for potential buyers.
The stock is now trading above JPMorgan's $40 price target.
Write to Molly Bordoff at molly.bordoff@barrons.com
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July 13, 2026 16:49 ET (20:49 GMT)
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