ConforMIS, Inc. (CFMS) Given Average Recommendation of “Hold” by Analysts
ConforMIS, Inc. (NASDAQ:CFMS) has earned an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.71.
Several research firms have recently weighed in on CFMS. ValuEngine upgraded shares of ConforMIS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Canaccord Genuity cut their price target on shares of ConforMIS from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, August 4th. Oppenheimer Holdings, Inc. set a $6.00 price target on shares of ConforMIS and gave the stock a “buy” rating in a report on Friday, August 4th. Deutsche Bank AG reissued a “hold” rating and issued a $5.00 price target (down previously from $6.00) on shares of ConforMIS in a report on Friday, August 4th. Finally, BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a research note on Sunday, July 16th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. raised its holdings in shares of ConforMIS by 7.0% during the first quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock valued at $115,000 after purchasing an additional 1,448 shares during the last quarter. Trent Capital Management Inc. NC purchased a new position in shares of ConforMIS during the second quarter valued at approximately $136,000. The Manufacturers Life Insurance Company raised its holdings in shares of ConforMIS by 21.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock valued at $158,000 after purchasing an additional 6,535 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of ConforMIS by 31.1% during the second quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock valued at $172,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of ConforMIS by 21.8% during the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after purchasing an additional 8,017 shares during the last quarter. 33.60% of the stock is owned by hedge funds and other institutional investors.
Shares of ConforMIS (NASDAQ CFMS) opened at 3.82 on Wednesday. The firm’s market capitalization is $171.27 million. ConforMIS has a 52-week low of $3.35 and a 52-week high of $10.16. The stock has a 50 day moving average of $3.72 and a 200-day moving average of $3.72.
ConforMIS (NASDAQ:CFMS) last posted its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.08. ConforMIS had a negative net margin of 72.87% and a negative return on equity of 66.61%. The business had revenue of $18.50 million for the quarter, compared to analysts’ expectations of $19.34 million. During the same period in the prior year, the company posted ($0.34) EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts expect that ConforMIS will post ($1.30) earnings per share for the current fiscal year.
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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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