ConforMIS Inc. (CFMS) Shares Up 4%
ConforMIS Inc. (NASDAQ:CFMS) shot up 4% on Thursday . The company traded as high as $7.38 and last traded at $7.26, with a volume of 138,588 shares changing hands. The stock had previously closed at $6.98.
A number of brokerages have recently weighed in on CFMS. Zacks Investment Research upgraded shares of ConforMIS from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $12.00 price objective (down from $18.00) on shares of ConforMIS in a report on Tuesday, May 17th. Canaccord Genuity restated a “buy” rating on shares of ConforMIS in a report on Saturday, May 14th. Deutsche Bank AG reduced their price objective on shares of ConforMIS from $26.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 13th. Finally, Wells Fargo & Co. lowered shares of ConforMIS from an “outperform” rating to a “market perform” rating in a report on Friday, May 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $15.20.
The company’s market cap is $319.28 million. The company has a 50 day moving average of $7.20 and a 200 day moving average of $10.28.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the 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 company’s quarterly revenue was up 38.1% compared to the same quarter last year. Equities research analysts predict that ConforMIS Inc. will post ($1.38) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in ConforMIS stock. Wells Fargo & Company MN raised its stake in ConforMIS Inc. (NASDAQ:CFMS) by 38.7% during the fourth quarter, Holdings Channel reports. 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 about 1.23% of ConforMIS worth $8,663,000 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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