ConforMIS Inc. (CFMS) Shares Up 4.3%
Shares of ConforMIS Inc. (NASDAQ:CFMS) shot up 4.3% during mid-day trading on Thursday . The company traded as high as $7.25 and last traded at $7.25, with a volume of 134,284 shares trading hands. The stock had previously closed at $6.95.
A number of research firms recently issued reports on CFMS. Zacks Investment Research upgraded ConforMIS from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Deutsche Bank AG decreased their price objective on ConforMIS from $26.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 13th. Wells Fargo & Co. lowered ConforMIS from an “outperform” rating to a “market perform” rating in a research note on Friday, May 13th. Oppenheimer Holdings Inc. began coverage on ConforMIS in a research note on Saturday, May 14th. They set a “buy” rating on the stock. Finally, Canaccord Genuity reiterated a “buy” rating on shares of ConforMIS in a research note on Saturday, May 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $15.20.
The firm’s market capitalization is $303.40 million. The company has a 50-day moving average of $7.07 and a 200-day moving average of $9.17.
ConforMIS (NASDAQ:CFMS) last issued its earnings results on Thursday, May 12th. The company reported ($0.37) EPS for the quarter, beating 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 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 year.
A hedge fund recently raised its stake in ConforMIS stock. Wells Fargo & Company MN boosted its position in ConforMIS Inc. (NASDAQ:CFMS) by 38.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 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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