SunTrust Banks Brokers Increase Earnings Estimates for ConforMIS Inc (CFMS)

ConforMIS Inc (NASDAQ:CFMS) – Analysts at SunTrust Banks upped their Q1 2018 earnings estimates for ConforMIS in a report released on Wednesday. SunTrust Banks analyst B. Nudell now anticipates that the medical instruments supplier will post earnings of ($0.27) per share for the quarter, up from their previous forecast of ($0.30). SunTrust Banks also issued estimates for ConforMIS’s Q2 2018 earnings at ($0.22) EPS, Q3 2018 earnings at ($0.21) EPS, Q4 2018 earnings at ($0.22) EPS, FY2018 earnings at ($0.92) EPS, Q1 2019 earnings at ($0.17) EPS, Q2 2019 earnings at ($0.16) EPS, Q3 2019 earnings at ($0.16) EPS, Q4 2019 earnings at ($0.15) EPS, FY2019 earnings at ($0.64) EPS, FY2020 earnings at ($0.44) EPS and FY2021 earnings at ($0.28) EPS.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) 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 analyst estimates of $20.07 million. During the same quarter last year, the business posted ($0.37) EPS. ConforMIS’s quarterly revenue was down 4.1% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. Oppenheimer set a $4.00 price target on shares of ConforMIS and gave the stock a “buy” rating in a research note on Thursday. BTIG Research reiterated a “buy” rating and issued a $4.00 price objective on shares of ConforMIS in a research note on Wednesday, January 10th. Zacks Investment Research lowered shares of ConforMIS from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Canaccord Genuity reduced their price objective on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered shares of ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.88.

Shares of ConforMIS (NASDAQ CFMS) opened at $1.38 on Monday. 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 has a one year low of $1.15 and a one year high of $8.61. The stock has a market cap of $62.50 and a P/E ratio of -1.11.

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 transaction, the insider now directly owns 151,408 shares of the company’s stock, valued at approximately $479,963.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Daniel Steines sold 15,485 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $3.15, for a total transaction of $48,777.75. Following the completion of the transaction, the chief technology officer now directly owns 254,652 shares of the company’s stock, valued at $802,153.80. The disclosure for this sale can be found here. Insiders sold a total of 93,291 shares of company stock valued at $248,077 over the last quarter. 9.55% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CFMS. Granite Investment Partners LLC bought a new position in ConforMIS in the 3rd quarter valued at $859,000. Ark Investment Management LLC boosted its holdings in ConforMIS by 208.5% in the 2nd quarter. Ark Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock valued at $825,000 after purchasing an additional 130,009 shares during the period. Citadel Advisors LLC boosted its holdings in ConforMIS by 331.2% in the 3rd quarter. Citadel Advisors LLC now owns 113,972 shares of the medical instruments supplier’s stock valued at $401,000 after purchasing an additional 87,540 shares during the period. Northern Trust Corp boosted its holdings in ConforMIS by 15.2% in the 2nd quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock valued at $1,950,000 after purchasing an additional 60,034 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in ConforMIS by 35.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock valued at $737,000 after purchasing an additional 45,096 shares during the period. 35.37% of the stock is owned by hedge funds and other institutional investors.

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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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