ConforMIS Inc. (NASDAQ:CFMS) Receives Consensus Rating of “Buy” from Analysts
ConforMIS Inc. (NASDAQ:CFMS) has been given an average rating of “Buy” by the nine analysts that are currently covering the company. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.33.
Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of ConforMIS from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, August 9th. Zacks Investment Research upgraded shares of ConforMIS from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. SunTrust Banks Inc. assumed coverage on shares of ConforMIS in a research note on Monday, September 19th. They issued a “buy” rating and a $14.00 price objective for the company. B. Riley assumed coverage on shares of ConforMIS in a research note on Wednesday, September 21st. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Oppenheimer Holdings Inc. upped their price objective on shares of ConforMIS from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Tuesday, August 9th.
Shares of ConforMIS (NASDAQ:CFMS) traded down 1.848% during trading on Friday, hitting $10.198. The company had a trading volume of 178,201 shares. ConforMIS has a 52-week low of $4.80 and a 52-week high of $23.62. The firm’s market capitalization is $429.61 million. The stock’s 50-day moving average is $8.86 and its 200 day moving average is $8.81.
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ConforMIS (NASDAQ:CFMS) last posted its earnings results on Monday, August 8th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.02 million. ConforMIS had a negative return on equity of 45.30% and a negative net margin of 84.33%. ConforMIS’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.51) earnings per share. Equities research analysts predict that ConforMIS will post ($1.40) earnings per share for the current fiscal year.
In related news, Director Kenneth P. Fallon III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were 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 owns 92,222 shares in the company, valued at $778,353.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Daniel Steines sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $10.03, for a total transaction of $100,300.00. Following the completion of the sale, the chief technology officer now owns 225,213 shares of the company’s stock, valued at approximately $2,258,886.39. The disclosure for this sale can be found here. Insiders own 9.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Raymond James & Associates purchased a new stake in shares of ConforMIS during the second quarter worth approximately $113,000. Oak Ridge Investments LLC purchased a new stake in shares of ConforMIS during the second quarter worth approximately $127,000. American International Group Inc. increased its stake in shares of ConforMIS by 242.6% in the second quarter. American International Group Inc. now owns 20,584 shares of the company’s stock worth $144,000 after buying an additional 14,575 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of ConforMIS during the second quarter worth approximately $147,000. Finally, Nationwide Fund Advisors increased its stake in shares of ConforMIS by 276.7% in the second quarter. Nationwide Fund Advisors now owns 22,932 shares of the company’s stock worth $161,000 after buying an additional 16,845 shares during the last quarter. Hedge funds and other institutional investors own 41.13% of the company’s stock.
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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