ConforMIS Inc. (NASDAQ:CFMS) shares were down 3.2% during trading on Thursday . The stock traded as low as $6.94 and last traded at $6.99, with a volume of 304,096 shares changing hands. The stock had previously closed at $7.22.

A number of analysts have recently issued reports on the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $12.00 price objective (down from $18.00) on shares of ConforMIS in a report on Tuesday, May 17th. Zacks Investment Research downgraded shares of ConforMIS from a “hold” rating to a “sell” rating in a report on Tuesday, June 7th. JPMorgan Chase & Co. downgraded shares of ConforMIS from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $8.00 in a report on Friday, May 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price objective on shares of ConforMIS in a report on Tuesday, April 5th. Finally, Wells Fargo & Co. downgraded shares of ConforMIS from an “outperform” rating to a “market perform” rating in a report on Friday, May 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.20.

The firm’s market cap is $292.12 million. The company has a 50-day moving average price of $7.25 and a 200 day moving average price of $9.71.

ConforMIS (NASDAQ:CFMS) last announced its earnings results on Thursday, May 12th. The company reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.01. The business had revenue of $20.30 million for the quarter, compared to analysts’ expectations of $19.23 million. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. On average, equities analysts forecast that ConforMIS Inc. will post ($1.38) earnings per share for the current year.

A hedge fund recently raised its stake in ConforMIS stock. Wells Fargo & Company MN raised its position in shares of ConforMIS Inc. (NASDAQ:CFMS) by 38.7% during the fourth quarter, according to its most recent Form 13F filing with the 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 as of its most recent SEC filing.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.