ConforMIS Inc. (NASDAQ:CFMS) shares fell 5.9% during mid-day trading on Wednesday . The company traded as low as $7.38 and last traded at $7.52, with a volume of 268,525 shares changing hands. The stock had previously closed at $7.99.

Several analysts have issued reports on the stock. Oppenheimer Holdings Inc. assumed coverage on shares of ConforMIS in a research report on Saturday, May 14th. They issued a “buy” rating on the stock. Canaccord Genuity restated a “buy” rating on shares of ConforMIS in a research report on Saturday, May 14th. Zacks Investment Research lowered shares of ConforMIS from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. JPMorgan Chase & Co. lowered shares of ConforMIS from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $8.00 in a research report on Friday, May 13th. Finally, Deutsche Bank AG restated a “buy” rating on shares of ConforMIS in a research report on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. ConforMIS has a consensus rating of “Buy” and an average price target of $15.20.

The firm’s market cap is $298.81 million. The firm’s 50 day moving average is $7.28 and its 200 day moving average is $10.02.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.01. The firm had revenue of $20.30 million for the quarter, compared to the consensus estimate of $19.23 million. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. Equities research analysts anticipate that ConforMIS Inc. will post ($1.38) earnings per share for the current year.

An institutional investor recently raised its position in ConforMIS stock. Wells Fargo & Company MN boosted its stake in ConforMIS Inc. (NASDAQ:CFMS) by 38.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501,056 shares of the company’s stock after buying an additional 139,708 shares during the period. Wells Fargo & Company MN owned approximately 1.23% of ConforMIS worth $8,663,000 at the end of the most recent reporting period.

ConforMIS, Inc is a medical technology company that uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants. The Company’s products include iTotal CR, which is the cruciate-retaining, customized total knee replacement system to restore the natural shape of a patient’s knee; iTotal PS, which is the posterior cruciate ligament substituting, or posterior-stabilized, customized total knee replacement product to restore the natural shape of a patient’s knee; iDuo, which is the customized bicompartmental knee replacement system, and iUni, which is the customized unicompartmental knee replacement product for treatment of the medial or lateral compartment of the knee.

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