ConforMIS Inc (CFMS) Expected to Post Quarterly Sales of $19.21 Million

Wall Street brokerages predict that ConforMIS Inc (NASDAQ:CFMS) will post sales of $19.21 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for ConforMIS’s earnings, with estimates ranging from $19.07 million to $19.48 million. ConforMIS reported sales of $18.43 million during the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The company is expected to issue its next earnings report on Wednesday, November 7th.

On average, analysts expect that ConforMIS will report full-year sales of $80.47 million for the current financial year, with estimates ranging from $80.05 million to $80.92 million. For the next financial year, analysts forecast that the firm will post sales of $89.65 million per share, with estimates ranging from $87.89 million to $91.23 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for ConforMIS.

ConforMIS (NASDAQ:CFMS) last posted its earnings results on Friday, August 3rd. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $19.10 million for the quarter, compared to analyst estimates of $19.52 million. ConforMIS had a negative net margin of 64.66% and a negative return on equity of 94.69%.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of ConforMIS from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Wednesday, July 18th. ValuEngine upgraded shares of ConforMIS from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Oppenheimer set a $4.00 target price on shares of ConforMIS and gave the company a “buy” rating in a research report on Thursday, August 2nd. SunTrust Banks restated a “buy” rating on shares of ConforMIS in a research report on Monday, July 16th. Finally, BTIG Research restated a “buy” rating and set a $3.00 target price on shares of ConforMIS in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $3.25.

NASDAQ CFMS opened at $1.14 on Friday. The firm has a market cap of $72.02 million, a P/E ratio of -0.92 and a beta of 1.12. ConforMIS has a 1 year low of $0.88 and a 1 year high of $4.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.77 and a quick ratio of 4.15.

Several institutional investors have recently modified their holdings of the business. Deutsche Bank AG raised its position in shares of ConforMIS by 43.5% in the fourth quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock worth $286,000 after acquiring an additional 36,634 shares during the period. Dimensional Fund Advisors LP raised its position in shares of ConforMIS by 79.9% in the first quarter. Dimensional Fund Advisors LP now owns 91,356 shares of the medical instruments supplier’s stock worth $132,000 after acquiring an additional 40,563 shares during the period. Altrinsic Global Advisors LLC raised its position in shares of ConforMIS by 17.9% in the first quarter. Altrinsic Global Advisors LLC now owns 328,942 shares of the medical instruments supplier’s stock worth $477,000 after acquiring an additional 50,000 shares during the period. BlackRock Inc. raised its position in shares of ConforMIS by 2.6% in the first quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock worth $3,478,000 after acquiring an additional 61,539 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of ConforMIS by 93.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 140,943 shares of the medical instruments supplier’s stock worth $205,000 after acquiring an additional 68,000 shares during the period. Institutional investors and hedge funds own 40.13% of the company’s stock.

About ConforMIS

ConforMIS, Inc, a medical technology company, develops, manufactures, and sells joint replacement implants. The company offers customized knee replacement products, including iTotal CR, a cruciate-retaining product; iTotal PS, a posterior cruciate ligament substituting product; iDuo, a customized bicompartmental knee replacement system; and iUni, a customized unicompartmental knee replacement product to treat the medial or lateral compartment of the knee.

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Earnings History and Estimates for ConforMIS (NASDAQ:CFMS)

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