Shares of ConforMIS Inc. (NASDAQ:CFMS) fell 4.9% during trading on Tuesday . The stock traded as low as $8.54 and last traded at $8.67, with a volume of 265,664 shares changing hands. The stock had previously closed at $9.12.

Several research firms have commented on CFMS. Canaccord Genuity reaffirmed a “buy” rating on shares of ConforMIS in a research note on Saturday, May 14th. Oppenheimer Holdings Inc. began coverage on ConforMIS in a research note on Saturday, May 14th. They set a “buy” rating for the company. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Deutsche Bank AG reduced their price objective on ConforMIS from $26.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 13th. Finally, Wells Fargo & Co. downgraded ConforMIS from an “outperform” rating to a “market perform” rating in a research note on Friday, May 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. ConforMIS presently has an average rating of “Buy” and a consensus target price of $15.40.

The stock has a 50-day moving average price of $7.25 and a 200 day moving average price of $8.98. The firm’s market capitalization is $363.93 million.

ConforMIS (NASDAQ:CFMS) last announced its earnings results on Monday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.01. During the same period in the previous year, the firm posted ($2.51) earnings per share. The business had revenue of $19.30 million for the quarter, compared to analysts’ expectations of $18.02 million. The firm’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that ConforMIS Inc. will post ($1.41) earnings per share for the current year.

An institutional investor recently raised its position in ConforMIS stock. RS Investment Management Co. LLC boosted its position in ConforMIS Inc. (NASDAQ:CFMS) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,432,470 shares of the company’s stock after buying an additional 43,490 shares during the period. RS Investment Management Co. LLC owned 3.52% of ConforMIS worth $24,767,000 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.

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