ConforMIS’s (CFMS) Hold Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG reaffirmed their hold rating on shares of ConforMIS, Inc. (NASDAQ:CFMS) in a research note released on Friday, MarketBeat.com reports. They currently have a $5.00 price target on the medical instruments supplier’s stock, down from their previous price target of $6.00.
Other research analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. restated a buy rating on shares of ConforMIS in a report on Tuesday, June 20th. B. Riley restated a buy rating and issued a $7.50 price objective on shares of ConforMIS in a report on Thursday, May 11th. Zacks Investment Research upgraded ConforMIS from a sell rating to a buy rating and set a $4.75 price objective on the stock in a report on Wednesday, July 12th. BTIG Research restated a hold rating on shares of ConforMIS in a report on Sunday, July 16th. Finally, Canaccord Genuity set a $8.00 price objective on ConforMIS and gave the company a hold rating in a report on Thursday, May 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $7.75.
Shares of ConforMIS (NASDAQ:CFMS) opened at 3.38 on Friday. ConforMIS has a 12 month low of $3.36 and a 12 month high of $10.93. The company has a 50-day moving average of $4.44 and a 200 day moving average of $5.42. The company’s market cap is $148.21 million.
ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. The company had revenue of $18.50 million for the quarter, compared to analyst estimates of $19.34 million. ConforMIS had a negative return on equity of 62.20% and a negative net margin of 72.87%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.34) EPS. On average, analysts anticipate that ConforMIS will post ($1.33) earnings per share for the current year.
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In other ConforMIS news, Director Bradley Langdale sold 6,722 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $4.30, for a total value of $28,904.60. Following the completion of the sale, the director now directly owns 26,533 shares of the company’s stock, valued at approximately $114,091.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.55% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. American International Group Inc. increased its stake in shares of ConforMIS by 7.0% in the first quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock worth $115,000 after buying an additional 1,448 shares during the period. Trent Capital Management Inc. NC bought a new stake in shares of ConforMIS during the second quarter worth about $136,000. Rhumbline Advisers increased its stake in shares of ConforMIS by 21.8% in the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock worth $192,000 after buying an additional 8,017 shares during the period. Stonebridge Capital Management Inc. bought a new stake in shares of ConforMIS during the first quarter worth about $220,000. Finally, Creative Planning bought a new stake in shares of ConforMIS during the first quarter worth about $236,000. 39.48% of the stock is owned by institutional investors and hedge funds.
ConforMIS, Inc is a medical technology company. The Company uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants, which are individually sized and shaped, to fit each patient’s anatomy. The Company’s iFit technology platform is applicable to various joints.
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