Oppenheimer Holdings, Inc. Reiterates $6.00 Price Target for ConforMIS, Inc. (NASDAQ:CFMS)
ConforMIS, Inc. (NASDAQ:CFMS) has been given a $6.00 price objective by analysts at Oppenheimer Holdings, Inc. in a report released on Friday. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 60.00% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $7.50 price target on shares of ConforMIS in a report on Thursday, May 11th. Zacks Investment Research raised shares of ConforMIS from a “sell” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Wednesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating and set a $5.00 price target (down previously from $6.00) on shares of ConforMIS in a report on Friday. BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a report on Sunday, July 16th. Finally, Canaccord Genuity set a $8.00 price target on shares of ConforMIS and gave the company a “hold” rating in a report on Thursday, May 11th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.75.
ConforMIS (CFMS) traded down 12.38% during mid-day trading on Friday, reaching $3.75. 2,375,928 shares of the company’s stock traded hands. ConforMIS has a 12-month low of $3.22 and a 12-month high of $10.93. The stock has a 50 day moving average of $4.44 and a 200 day moving average of $5.42. The company’s market cap is $164.44 million.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.08. ConforMIS had a negative net margin of 72.87% and a negative return on equity of 62.20%. The business had revenue of $18.50 million for the quarter, compared to the consensus estimate of $19.34 million. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts predict that ConforMIS will post ($1.43) earnings per share for the current fiscal year.
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In other news, Director Bradley Langdale sold 6,722 shares of the business’s stock in a transaction 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 owns 26,533 shares of the company’s stock, valued at $114,091.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.55% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Columbus Circle Investors increased its position in ConforMIS by 47.2% in the second quarter. Columbus Circle Investors now owns 223,175 shares of the medical instruments supplier’s stock valued at $957,000 after buying an additional 71,522 shares during the period. Bank of New York Mellon Corp increased its position in ConforMIS by 35.6% in the second quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock valued at $737,000 after buying an additional 45,096 shares during the period. Rhumbline Advisers increased its position in ConforMIS by 21.8% in the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after buying an additional 8,017 shares during the period. Trent Capital Management Inc. NC bought a new position in ConforMIS during the second quarter valued at approximately $136,000. Finally, Spark Investment Management LLC bought a new position in ConforMIS during the second quarter valued at approximately $430,000. 39.16% of the stock is currently owned by hedge funds and other institutional investors.
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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