Zacks Investment Research Upgrades ConforMIS (CFMS) to Hold

ConforMIS (NASDAQ:CFMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “ConforMIS, Inc. is a medical technology company which develops, manufacture and sells joint replacement implants. The Company’s iFit technology platform consists of iFit Design, iFit Printing and iFit Just-in-Time Delivery. It operates primarily in the United States, Germany and the United Kingdom. The Company serves orthopedic surgeons, hospitals and other medical facilities and patients. ConforMIS, Inc. is based in Bedford, United States. “

Several other equities research analysts also recently commented on CFMS. Canaccord Genuity lowered their target price on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday. Oppenheimer set a $4.00 target price on shares of ConforMIS and gave the company a “buy” rating in a research note on Thursday. BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. downgraded shares of ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. ConforMIS has a consensus rating of “Hold” and a consensus target price of $4.88.

Shares of ConforMIS (NASDAQ CFMS) traded up $0.11 during midday trading on Monday, reaching $1.49. 1,408,030 shares of the company traded hands, compared to its average volume of 908,970. ConforMIS has a fifty-two week low of $1.15 and a fifty-two week high of $8.61. The firm has a market capitalization of $66.58 and a price-to-earnings ratio of -1.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.19 and a quick ratio of 5.38.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, beating 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 firm had revenue of $20.80 million during the quarter, compared to the consensus estimate of $20.07 million. During the same quarter in the prior year, the firm earned ($0.37) earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. equities research analysts anticipate that ConforMIS will post -0.86 earnings per share for the current fiscal year.

In other news, insider David Cerveny sold 16,392 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total transaction of $51,962.64. Following the completion of the sale, the insider now owns 151,408 shares of the company’s stock, valued at $479,963.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Daniel Steines sold 15,485 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.15, for a total transaction of $48,777.75. Following the sale, the chief technology officer now directly owns 254,652 shares of the company’s stock, valued at approximately $802,153.80. The disclosure for this sale can be found here. Insiders have sold 93,291 shares of company stock valued at $248,077 in the last three months. 9.55% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of CFMS. Stonebridge Capital Management Inc. bought a new stake in shares of ConforMIS during the third quarter worth $130,000. The Manufacturers Life Insurance Company increased its position in shares of ConforMIS by 21.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock worth $158,000 after acquiring an additional 6,535 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of ConforMIS by 31.1% during the second quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock worth $172,000 after acquiring an additional 9,500 shares in the last quarter. Rhumbline Advisers increased its position in shares of ConforMIS by 21.8% during the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock worth $192,000 after acquiring an additional 8,017 shares in the last quarter. Finally, Swiss National Bank grew its position in ConforMIS by 59.2% in the second 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 in the last quarter. 26.99% of the stock is owned by institutional investors.

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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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