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

CFMS has been the topic of several recent research reports. Oppenheimer Holdings Inc. assumed coverage on ConforMIS in a research report on Saturday, May 14th. They issued a “buy” rating on the stock. Canaccord Genuity reiterated a “buy” rating on shares of ConforMIS in a report on Saturday, May 14th. Deutsche Bank AG reduced their target price on ConforMIS from $26.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 13th. Zacks Investment Research upgraded ConforMIS from a “sell” rating to a “hold” rating in a report on Wednesday, June 1st. Finally, Wells Fargo & Co. lowered ConforMIS from an “outperform” rating to a “market perform” rating in a report on Friday, May 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.40.

The stock’s market cap is $353.87 million. The company’s 50 day moving average price is $7.38 and its 200 day moving average price is $8.96.

ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.01. The company had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.02 million. During the same quarter last year, the company posted ($2.51) earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that ConforMIS Inc. will post ($1.41) EPS for the current year.

An institutional investor recently raised its position in ConforMIS stock. RS Investment Management Co. LLC increased its stake 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 fund 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 approximately 3.52% of ConforMIS worth $24,767,000 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.

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's FREE daily email newsletter.