ConforMIS, Inc. (CFMS) to Release Earnings on Wednesday
ConforMIS, Inc. (NASDAQ:CFMS) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 1st. Analysts expect ConforMIS to post earnings of ($0.32) per share for the quarter.
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, topping the Zacks’ 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 company had revenue of $18.50 million during the quarter, compared to the consensus estimate of $19.34 million. During the same quarter in the prior year, the firm posted ($0.34) EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts expect ConforMIS to post $-1.29 EPS for the current fiscal year and $-1.05 EPS for the next fiscal year.
Shares of ConforMIS, Inc. (CFMS) opened at 3.48 on Wednesday. ConforMIS, Inc. has a one year low of $3.22 and a one year high of $10.16. The company’s market cap is $156.03 million. The stock’s 50 day moving average is $3.67 and its 200-day moving average is $3.67.
Several brokerages have issued reports on CFMS. BTIG Research reiterated a “hold” rating on shares of ConforMIS in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of ConforMIS from a “sell” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. set a $6.00 target price on shares of ConforMIS and gave the company a “buy” rating in a research report on Friday, August 4th. Deutsche Bank AG reiterated a “hold” rating and set a $5.00 target price (down from $6.00) on shares of ConforMIS in a research report on Friday, August 4th. Finally, ValuEngine upgraded shares of ConforMIS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.71.
An institutional investor recently raised its position in ConforMIS stock. State Street Corp raised its stake in shares of ConforMIS, Inc. (NASDAQ:CFMS) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 594,583 shares of the medical instruments supplier’s stock after purchasing an additional 8,693 shares during the quarter. State Street Corp owned 1.33% of ConforMIS worth $2,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 33.63% of the stock is currently owned by 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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