Brokers Set Expectations for ConforMIS Inc’s FY2018 Earnings (CFMS)

ConforMIS Inc (NASDAQ:CFMS) – Investment analysts at Oppenheimer lifted their FY2018 EPS estimates for shares of ConforMIS in a report issued on Thursday. Oppenheimer analyst S. Lichtman now anticipates that the medical instruments supplier will post earnings of ($0.82) per share for the year, up from their previous estimate of ($1.01). Oppenheimer has a “Buy” rating and a $4.00 price target on the stock.

CFMS has been the subject of several other reports. Zacks Investment Research cut shares of ConforMIS from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Canaccord Genuity decreased their price objective on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday. BTIG Research restated a “hold” rating on shares of ConforMIS in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. cut shares of ConforMIS from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $4.88.

Shares of ConforMIS (NASDAQ CFMS) opened at $1.38 on Monday. ConforMIS has a 12-month low of $1.15 and a 12-month high of $8.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.38 and a current ratio of 6.19.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings data on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 78.44%. The company had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $20.07 million. During the same period in the prior year, the company posted ($0.37) earnings per share. ConforMIS’s revenue for the quarter was down 4.1% compared to the same quarter last year.

A number of large investors have recently bought and sold shares of the business. Citadel Advisors LLC grew its holdings in ConforMIS by 331.2% in the third quarter. Citadel Advisors LLC now owns 113,972 shares of the medical instruments supplier’s stock worth $401,000 after purchasing an additional 87,540 shares during the period. Granite Investment Partners LLC bought a new position in shares of ConforMIS in the third quarter valued at $859,000. Stonebridge Capital Management Inc. bought a new position in shares of ConforMIS in the third quarter valued at $130,000. The Manufacturers Life Insurance Company lifted its stake in shares of ConforMIS by 21.4% in 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 buying an additional 6,535 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of ConforMIS by 1.5% in the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock valued at $2,550,000 after buying an additional 8,693 shares in the last quarter. Institutional investors and hedge funds own 26.99% of the company’s stock.

In other ConforMIS news, insider David Cerveny sold 16,392 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total value of $51,962.64. Following the completion of the sale, the insider now directly owns 151,408 shares in the company, valued at $479,963.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul S. Weiner sold 17,723 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was 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 $513,568.53. The disclosure for this sale can be found here. Insiders sold 93,291 shares of company stock valued at $248,077 over the last 90 days. Corporate insiders own 9.55% of the company’s stock.

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About ConforMIS

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.

Earnings History and Estimates for ConforMIS (NASDAQ:CFMS)

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