ConforMIS Inc. (CFMS) to Post Q3 2016 Earnings of ($0.34) Per Share, SunTrust Banks Forecasts
ConforMIS Inc. (NASDAQ:CFMS) – Equities research analysts at SunTrust Banks issued their Q3 2016 EPS estimates for ConforMIS in a research note issued to investors on Monday. SunTrust Banks analyst B. Nudell anticipates that the brokerage will post earnings per share of ($0.34) for the quarter. SunTrust Banks has a “Buy” rating and a $14.00 price target on the stock. SunTrust Banks also issued estimates for ConforMIS’s Q4 2016 earnings at ($0.30) EPS, FY2016 earnings at ($1.35) EPS, Q1 2017 earnings at ($0.37) EPS, Q2 2017 earnings at ($0.35) EPS, Q3 2017 earnings at ($0.29) EPS, Q4 2017 earnings at ($0.22) EPS, FY2017 earnings at ($1.20) EPS, FY2018 earnings at ($0.99) EPS, FY2019 earnings at ($0.84) EPS and FY2020 earnings at ($0.55) EPS.
Other equities analysts have also issued reports about the company. B. Riley began coverage on ConforMIS in a research report on Wednesday. They issued a “buy” rating and a $13.00 target price on the stock. Oppenheimer Holdings Inc. upped their target price on ConforMIS from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. Zacks Investment Research lowered ConforMIS from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. Finally, JPMorgan Chase & Co. cut their target price on ConforMIS from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. ConforMIS currently has a consensus rating of “Buy” and an average price target of $14.86.
Shares of ConforMIS (NASDAQ:CFMS) traded down 2.3121% during midday trading on Wednesday, hitting $9.2022. 87,274 shares of the company’s stock traded hands. The stock’s market cap is $387.66 million. The company has a 50 day moving average of $8.22 and a 200 day moving average of $8.80. ConforMIS has a 52 week low of $4.80 and a 52 week high of $23.62.
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ConforMIS (NASDAQ:CFMS) last issued its earnings results on Monday, August 8th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. The company had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.02 million. ConforMIS had a negative net margin of 84.33% and a negative return on equity of 45.30%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.51) EPS.
A number of large investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in ConforMIS by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 272,339 shares of the company’s stock valued at $2,928,000 after buying an additional 2,347 shares during the last quarter. Geode Capital Management LLC boosted its position in ConforMIS by 15.1% in the first quarter. Geode Capital Management LLC now owns 77,877 shares of the company’s stock valued at $837,000 after buying an additional 10,235 shares during the last quarter. LPL Financial LLC acquired a new position in ConforMIS during the first quarter valued at about $145,000. American International Group Inc. boosted its position in ConforMIS by 242.6% in the second quarter. American International Group Inc. now owns 20,584 shares of the company’s stock valued at $144,000 after buying an additional 14,575 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in ConforMIS during the second quarter valued at about $113,000. 41.38% of the stock is currently owned by hedge funds and other institutional investors.
In other ConforMIS news, insider Daniel Steines sold 30,000 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the sale, the insider now directly owns 245,213 shares of the company’s stock, valued at $2,228,986.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth P. Fallon III sold 4,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $8.44, for a total value of $33,760.00. Following the completion of the sale, the director now directly owns 92,222 shares in the company, valued at $778,353.68. The disclosure for this sale can be found here. 9.20% of the stock is owned by company insiders.
ConforMIS Company Profile
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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