Coronavirus To Weigh On These 4 Medical Stocks' Q1 Show
Zacks Investment Research | Mar 11, 2020 09:20PM ET
The coronavirus crisis continues to rattle global markets. Adding to the angst, the WHO declared the disease to be a pandemic yesterday. Notably, the S&P 500 index fell 4.9% and Nasdaq slipped 4.7% on the day.
Last month, a industry ’s 13.4% decline.
Lastly, MedTech firm CONMED Corporation (NYSE:CNMD) recently issued a revenue warning for the first quarter. The Zacks Rank #3 company now expects revenue growth of 2-4% in the quarter, down from the prior guidance of 5-6%. Adjusted EPS is expected to grow in the mid-single digits, compared with the prior guidance of high single digit to low double-digit growth.
Shares of CONMED have plunged 24.5% compared with the industry’s 13.5% decline over the past month.
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