** Medical tech firm Conmed CNMD.N slips 2.6% premarket to $55.5 after Needham downgrades to "hold" from "buy"
** Brokerage says co's long-term growth rate has decreased, meaning slower EPS growth with debt levels limiting its ability to expand new growth drivers or repurchase shares
** Needham adds that it defended CNMD for trading at substantial discount to peers but co's price-to-earnings ratio nearing that of peers led to rating cut
** Average rating of six analysts is "hold"; median PT is $61 - data compiled by LSEG
** As of last close, CNMD down 16.8% YTD
(Reporting by Twesha Dikshit)
((Twesha.Dikshit@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.