ConforMIS Inc (NASDAQ:CFMS) – Investment analysts at Oppenheimer issued their Q1 2018 EPS estimates for shares of ConforMIS in a research note issued to investors on Thursday. Oppenheimer analyst S. Lichtman expects that the medical instruments supplier will earn ($0.24) per share for the quarter. Oppenheimer has a “Buy” rating and a $4.00 price target on the stock. Oppenheimer also issued estimates for ConforMIS’s Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.20) EPS, Q4 2018 earnings at ($0.17) EPS and FY2019 earnings at ($0.68) EPS.
CFMS has been the topic of several other research reports. Zacks Investment Research cut shares of ConforMIS from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Canaccord Genuity lowered their target price on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday. BTIG Research restated a “hold” rating on shares of ConforMIS in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. cut shares of ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $4.88.
ConforMIS (NASDAQ:CFMS) last posted its earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. The business had revenue of $20.80 million for the quarter, compared to analysts’ expectations of $20.07 million. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 78.44%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.37) EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stonebridge Capital Management Inc. purchased a new stake in shares of ConforMIS during the 3rd quarter valued at about $130,000. The Manufacturers Life Insurance Company increased its position in shares of ConforMIS by 21.4% during the 2nd 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. increased its position in shares of ConforMIS by 31.1% during the 2nd 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. Rhumbline Advisers increased its position in shares of ConforMIS by 21.8% during the 2nd 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. Finally, Swiss National Bank increased its position in shares of ConforMIS by 59.2% during the 2nd quarter. Swiss National Bank now owns 53,500 shares of the medical instruments supplier’s stock valued at $230,000 after purchasing an additional 19,900 shares during the last quarter. 35.37% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Paul S. Weiner sold 17,723 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total transaction of $56,181.91. Following the completion of the sale, the chief financial officer now owns 162,009 shares of the company’s stock, valued at approximately $513,568.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Cerveny sold 16,392 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total transaction of $51,962.64. Following the sale, the insider now directly owns 151,408 shares of the company’s stock, valued at approximately $479,963.36. The disclosure for this sale can be found here. Insiders have sold a total of 93,291 shares of company stock valued at $248,077 in the last ninety days. Insiders own 9.55% of the company’s stock.
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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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