ConforMIS, Inc. (NASDAQ:CFMS) Rating Reiterated by Deutsche Bank AG
ConforMIS, Inc. (NASDAQ:CFMS)‘s stock had its “hold” rating reiterated by Deutsche Bank AG in a report issued on Friday, Marketbeat reports. They presently have a $5.00 price target on the medical instruments supplier’s stock, down from their previous price target of $6.00. Deutsche Bank AG’s target price would indicate a potential upside of 33.33% from the stock’s previous close.
Several other brokerages have also recently weighed in on CFMS. B. Riley reiterated a “buy” rating and set a $7.50 price target on shares of ConforMIS in a research report on Thursday, May 11th. Canaccord Genuity set a $8.00 price target on ConforMIS and gave the company a “hold” rating in a research report on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $9.00 price target on ConforMIS and gave the company a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research upgraded ConforMIS from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, BTIG Research assumed coverage on ConforMIS in a research report on Tuesday, June 20th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $7.75.
ConforMIS (NASDAQ:CFMS) traded down 12.38% during trading on Friday, reaching $3.75. 2,375,928 shares of the company were exchanged. The stock’s market capitalization is $164.44 million. ConforMIS has a one year low of $3.22 and a one year high of $10.93. The firm’s 50 day moving average price is $4.44 and its 200-day moving average price is $5.42.
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 Thomson Reuters’ 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 company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) earnings per share. On average, equities research analysts predict that ConforMIS will post ($1.43) earnings per share for the current year.
In related news, Director Bradley Langdale sold 6,722 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $4.30, for a total value of $28,904.60. Following the transaction, the director now directly owns 26,533 shares in the company, valued at $114,091.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.55% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in ConforMIS by 7.0% in the first quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock valued at $115,000 after buying an additional 1,448 shares during the period. Trent Capital Management Inc. NC acquired a new position in shares of ConforMIS during the second quarter worth approximately $136,000. Rhumbline Advisers boosted its position 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 last quarter. Stonebridge Capital Management Inc. acquired a new position in shares of ConforMIS during the first quarter worth approximately $220,000. Finally, Creative Planning acquired a new position in shares of ConforMIS during the first quarter worth approximately $236,000. Institutional investors own 39.16% of the company’s stock.
ConforMIS Company Profile
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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