ConforMIS, Inc. (CFMS) Receives Average Recommendation of “Hold” from Analysts
ConforMIS, Inc. (NASDAQ:CFMS) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.75.
CFMS has been the subject of several research analyst reports. ValuEngine upgraded ConforMIS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Canaccord Genuity decreased their target price on ConforMIS from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 4th. BTIG Research initiated coverage on ConforMIS in a research report on Tuesday, June 20th. They set a “neutral” rating for the company. Deutsche Bank AG reiterated a “hold” rating and set a $5.00 target price (down from $6.00) on shares of ConforMIS in a research report on Friday, August 4th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of ConforMIS in a research report on Tuesday, June 20th.
In other news, Director Bradley Langdale sold 6,722 shares of ConforMIS stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $4.30, for a total transaction of $28,904.60. Following the completion of the sale, the director now directly owns 26,533 shares in the company, valued at $114,091.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.55% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in shares of 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 acquiring an additional 935 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ConforMIS by 1,313.6% in the first quarter. Goldman Sachs Group Inc. now owns 148,147 shares of the medical instruments supplier’s stock valued at $773,000 after acquiring an additional 137,667 shares in the last quarter. UBS Group AG raised its holdings in shares of ConforMIS by 53.0% in the first quarter. UBS Group AG now owns 269,551 shares of the medical instruments supplier’s stock valued at $1,407,000 after acquiring an additional 93,330 shares in the last quarter. Trent Capital Management Inc. NC bought a new stake in shares of ConforMIS in the second quarter valued at about $136,000. Finally, Platinum Investment Management Ltd. raised its holdings in shares of ConforMIS by 49.0% in the first quarter. Platinum Investment Management Ltd. now owns 271,256 shares of the medical instruments supplier’s stock valued at $1,415,000 after acquiring an additional 89,200 shares in the last quarter. Hedge funds and other institutional investors own 34.05% of the company’s stock.
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ConforMIS (CFMS) opened at 3.53 on Friday. ConforMIS has a 12 month low of $3.52 and a 12 month high of $10.93. The stock’s market capitalization is $158.27 million. The firm’s 50-day moving average is $3.79 and its 200-day moving average is $4.34.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.08. The company had revenue of $18.50 million during the quarter, compared to the consensus estimate of $19.34 million. ConforMIS had a negative return on equity of 66.61% and a negative net margin of 72.87%. ConforMIS’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. On average, equities analysts expect that ConforMIS will post ($1.30) earnings per share for the current fiscal year.
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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