Financial

CONMED Upgraded at Ladenburg Thalmann (CNMD)

Ladenburg Thalmann upgraded shares of CONMED (NASDAQ:CNMD) from a neutral rating to a buy rating in a research report released on Monday, The Fly reports. The brokerage currently has $55.00 price objective on the medical technology company’s stock.

Shares of CONMED (NASDAQ:CNMD) traded up 0.3657% during mid-day trading on Monday, reaching $49.4301. The company had a trading volume of 27,285 shares. The stock has a market capitalization of $1.37 billion and a P/E ratio of 50.9589. CONMED has a one year low of $39.12 and a one year high of $60.66. The firm has a 50 day moving average of $50.10 and a 200-day moving average of $53.86.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings results on Tuesday, July 21st. The medical technology company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.08. During the same period in the prior year, the company earned $0.47 EPS. The firm earned $181 million during the quarter, compared to analysts’ expectations of $182.40 million. CONMED’s revenue was down 3.8% on a year-over-year basis. Analysts forecast that CONMED will post $1.83 EPS for the current fiscal year.

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