ConforMIS Inc. (NASDAQ:CFMS) dropped 3% on Thursday . The stock traded as low as $7.82 and last traded at $7.87, with a volume of 258,872 shares. The stock had previously closed at $8.11.

CFMS has been the topic of several recent research reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $12.00 price target (down from $18.00) on shares of ConforMIS in a research note on Tuesday, May 17th. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a research note on Wednesday, June 1st. Wells Fargo & Co. cut ConforMIS from an “outperform” rating to a “market perform” rating in a research note on Friday, May 13th. Deutsche Bank AG cut their target price on ConforMIS from $26.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on ConforMIS from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $15.40.

The stock’s 50-day moving average price is $7.58 and its 200 day moving average price is $8.87. The firm’s market cap is $331.54 million.

ConforMIS (NASDAQ:CFMS) last issued its quarterly 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. The business had revenue of $19.30 million for the quarter, compared to the consensus estimate of $18.02 million. During the same period in the prior year, the business posted ($2.51) earnings per share. ConforMIS’s revenue was up .5% on a year-over-year basis. On average, analysts predict that ConforMIS Inc. will post ($1.40) EPS for the current year.

In related news, Director Kenneth P. Fallon III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $8.44, for a total transaction of $33,760.00. Following the completion of the sale, the director now directly owns 92,222 shares of the company’s stock, valued at approximately $778,353.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

A hedge fund recently raised its stake in ConforMIS stock. RS Investment Management Co. LLC boosted its position in shares of 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 (SEC). 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 about 3.52% of ConforMIS worth $24,767,000 at the end of the most recent quarter.

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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