Shares of ConforMIS Inc (NASDAQ:CFMS) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $3.17.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of ConforMIS from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Oppenheimer set a $4.00 price target on shares of ConforMIS and gave the stock a “buy” rating in a research report on Thursday, May 2nd. BTIG Research downgraded shares of ConforMIS from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, ValuEngine downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd.
Shares of CFMS stock traded down $0.10 during mid-day trading on Friday, hitting $1.92. 800,564 shares of the stock were exchanged, compared to its average volume of 1,215,261. The firm has a fifty day moving average of $2.56 and a 200 day moving average of $2.64. The company has a quick ratio of 2.64, a current ratio of 3.48 and a debt-to-equity ratio of 0.92. ConforMIS has a 52-week low of $0.36 and a 52-week high of $4.83. The company has a market cap of $138.73 million, a PE ratio of -2.59 and a beta of 2.28.
ConforMIS (NASDAQ:CFMS) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. ConforMIS had a negative net margin of 34.68% and a negative return on equity of 92.18%. The business had revenue of $19.59 million for the quarter, compared to analyst estimates of $19.36 million. Equities analysts predict that ConforMIS will post -0.41 EPS for the current year.
In other ConforMIS news, major shareholder Archon Capital Management Llc sold 613,594 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $3.00, for a total value of $1,840,782.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul S. Weiner sold 10,764 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $4.15, for a total transaction of $44,670.60. Following the completion of the sale, the chief financial officer now owns 554,562 shares of the company’s stock, valued at approximately $2,301,432.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,253,298 shares of company stock valued at $4,150,793. Insiders own 3.38% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of ConforMIS by 639.2% during the 2nd quarter. BlackRock Inc. now owns 4,206,152 shares of the medical instruments supplier’s stock worth $18,339,000 after buying an additional 3,637,102 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of ConforMIS by 25.0% during the 2nd quarter. Renaissance Technologies LLC now owns 5,326,383 shares of the medical instruments supplier’s stock worth $23,223,000 after buying an additional 1,065,255 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of ConforMIS by 51.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,001,123 shares of the medical instruments supplier’s stock worth $13,085,000 after buying an additional 1,014,689 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of ConforMIS during the 2nd quarter worth approximately $1,910,000. Finally, Spark Investment Management LLC increased its holdings in shares of ConforMIS by 172.2% during the 1st quarter. Spark Investment Management LLC now owns 500,000 shares of the medical instruments supplier’s stock worth $1,440,000 after buying an additional 316,300 shares during the last quarter. Institutional investors own 40.95% of the company’s stock.
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.
Further Reading: How Do Front-End Loads Impact an Investment?
Receive News & Ratings for ConforMIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConforMIS and related companies with MarketBeat.com's FREE daily email newsletter.