ConforMIS Inc (CFMS) Short Interest Down 30.3% in January

ConforMIS Inc (NASDAQ:CFMS) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,750,599 shares, a drop of 30.3% from the January 12th total of 2,511,764 shares. Based on an average daily volume of 1,295,167 shares, the short-interest ratio is currently 1.4 days. Approximately 5.2% of the shares of the stock are sold short.

ConforMIS (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 stock has a market capitalization of $62.50 and a PE ratio of -1.11. 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 announced its quarterly earnings data on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03. The firm had revenue of $20.80 million for the quarter, compared to analysts’ expectations of $20.07 million. ConforMIS had a negative return on equity of 78.44% and a negative net margin of 68.59%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.37) earnings per share. sell-side analysts anticipate that ConforMIS will post -0.86 EPS for the current fiscal year.

In other ConforMIS news, insider David Cerveny sold 16,392 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $3.17, for a total transaction of $51,962.64. Following the sale, the insider now owns 151,408 shares in the company, valued at $479,963.36. The transaction was disclosed in a document filed 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 dated Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total value of $56,181.91. Following the sale, the chief financial officer now owns 162,009 shares in the company, valued at approximately $513,568.53. The disclosure for this sale can be found here. Insiders have sold 93,291 shares of company stock worth $248,077 in the last 90 days. Company insiders own 9.55% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CFMS. Stonebridge Capital Management Inc. bought a new stake in shares of ConforMIS in the third quarter worth about $130,000. The Manufacturers Life Insurance Company grew 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 worth $158,000 after purchasing an additional 6,535 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of ConforMIS by 31.1% in the second quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock worth $172,000 after purchasing an additional 9,500 shares during the last quarter. Rhumbline Advisers grew its stake in shares of ConforMIS by 21.8% in the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock worth $192,000 after purchasing an additional 8,017 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of ConforMIS by 59.2% in the second quarter. Swiss National Bank now owns 53,500 shares of the medical instruments supplier’s stock worth $230,000 after purchasing an additional 19,900 shares during the last quarter. 35.37% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on CFMS. BTIG Research restated a “hold” rating on shares of ConforMIS in a research report on Thursday, November 2nd. Zacks Investment Research downgraded ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. cut ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Canaccord Genuity reduced their price objective on ConforMIS from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Oppenheimer set a $4.00 price objective on ConforMIS and gave the company a “buy” rating in a research note on Thursday. Three equities research 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 an average rating of “Hold” and an average target price of $4.88.

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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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