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

A number of research analysts recently commented on CFMS shares. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price objective on shares of ConforMIS in a research report on Tuesday, April 5th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $12.00 price objective (down from $18.00) on shares of ConforMIS in a research report on Tuesday, May 17th. Zacks Investment Research raised shares of ConforMIS from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Wells Fargo & Co. downgraded shares of ConforMIS from an “outperform” rating to a “market perform” rating in a research report on Friday, May 13th. Finally, Deutsche Bank AG lowered their price objective on shares of ConforMIS from $26.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $15.20.

The stock’s 50 day moving average price is $7.22 and its 200-day moving average price is $9.64. The firm’s market capitalization is $285.85 million.

ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The firm earned $20.30 million during the quarter, compared to analyst estimates of $19.23 million. The company’s revenue for the quarter was up 38.1% on a year-over-year basis. On average, equities analysts predict that ConforMIS Inc. will post ($1.38) EPS for the current fiscal year.

An institutional investor recently raised its position in ConforMIS stock. Wells Fargo & Company MN boosted its position in shares of ConforMIS Inc. (NASDAQ:CFMS) by 38.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 501,056 shares of the company’s stock after buying an additional 139,708 shares during the period. Wells Fargo & Company MN owned 1.23% of ConforMIS worth $8,663,000 as of its most recent filing with the SEC.

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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