ConforMIS Inc. (CFMS) Shares Up 2.5%
Shares of ConforMIS Inc. (NASDAQ:CFMS) shot up 2.5% on Wednesday . The stock traded as high as $7.00 and last traded at $7.00, with a volume of 93,964 shares traded. The stock had previously closed at $6.83.
Several brokerages have weighed in on CFMS. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Deutsche Bank AG dropped their price objective on ConforMIS from $26.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 13th. Wells Fargo & Co. cut ConforMIS from an “outperform” rating to a “market perform” rating in a report on Friday, May 13th. Oppenheimer Holdings Inc. began coverage on ConforMIS in a report on Saturday, May 14th. They set a “buy” rating for the company. Finally, Canaccord Genuity reissued a “buy” rating on shares of ConforMIS in a report on Saturday, May 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. ConforMIS has an average rating of “Buy” and an average price target of $15.20.
The company’s market capitalization is $292.54 million. The stock has a 50-day moving average of $7.17 and a 200-day moving average of $9.43.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. The business earned $20.30 million during the quarter, compared to analyst estimates of $19.23 million. The firm’s 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 shares of ConforMIS Inc. (NASDAQ:CFMS) by 38.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 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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