American International Group Inc. Raises Stake in ConforMIS, Inc. (CFMS)
American International Group Inc. increased its stake in ConforMIS, Inc. (NASDAQ:CFMS) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,009 shares of the medical instruments supplier’s stock after buying an additional 1,448 shares during the period. American International Group Inc.’s holdings in ConforMIS were worth $115,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CFMS. Wells Fargo & Company MN increased its position in ConforMIS by 1.8% in the first quarter. Wells Fargo & Company MN now owns 53,930 shares of the medical instruments supplier’s stock valued at $282,000 after buying an additional 935 shares during the last quarter. Teachers Advisors LLC increased its position in ConforMIS by 27.6% in the fourth quarter. Teachers Advisors LLC now owns 73,565 shares of the medical instruments supplier’s stock valued at $596,000 after buying an additional 15,890 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in ConforMIS during the fourth quarter valued at $311,000. Stonebridge Capital Management Inc. acquired a new position in ConforMIS during the first quarter valued at $220,000. Finally, Creative Planning acquired a new position in ConforMIS during the first quarter valued at $236,000. Institutional investors own 39.48% of the company’s stock.
Shares of ConforMIS, Inc. (CFMS) opened at 3.51 on Wednesday. The stock’s 50 day moving average is $4.44 and its 200 day moving average is $5.42. ConforMIS, Inc. has a 12 month low of $3.35 and a 12 month high of $10.93. The company’s market capitalization is $153.91 million.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.08. The business had revenue of $18.50 million for the quarter, compared to the consensus estimate of $19.34 million. ConforMIS had a negative net margin of 72.87% and a negative return on equity of 62.20%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. On average, equities analysts predict that ConforMIS, Inc. will post ($1.30) EPS for the current fiscal year.
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CFMS has been the topic of several recent research reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of ConforMIS in a research report on Tuesday, June 20th. B. Riley reiterated a “buy” rating and issued a $7.50 price target on shares of ConforMIS in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of ConforMIS from a “sell” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Wednesday, July 12th. Deutsche Bank AG reiterated a “hold” rating and issued a $5.00 price target (down from $6.00) on shares of ConforMIS in a research report on Friday, August 4th. Finally, BTIG Research reiterated a “hold” rating on shares of ConforMIS in a research report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.75.
In related news, Director Bradley Langdale sold 6,722 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $4.30, for a total transaction of $28,904.60. Following the sale, the director now directly owns 26,533 shares of the company’s stock, valued at $114,091.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.55% of the stock is owned by corporate insiders.
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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