ConforMIS, Inc. (NASDAQ:CFMS) insider David Cerveny sold 16,392 shares of the company’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 sale, the insider now owns 151,408 shares of the company’s stock, valued at $479,963.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
ConforMIS, Inc. (NASDAQ CFMS) opened at $3.02 on Friday. ConforMIS, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $9.47. 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 posted its earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.03. ConforMIS had a negative return on equity of 76.88% and a negative net margin of 72.70%. The company had revenue of $18.40 million for the quarter, compared to analyst estimates of $17.55 million. During the same quarter last year, the company earned ($0.31) earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. research analysts anticipate that ConforMIS, Inc. will post -1.27 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in ConforMIS by 1.5% during the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock worth $2,550,000 after acquiring an additional 8,693 shares during the period. Northern Trust Corp lifted its holdings in ConforMIS by 15.2% during the second quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock worth $1,950,000 after acquiring an additional 60,034 shares during the period. Platinum Investment Management Ltd. lifted its holdings in ConforMIS by 23.6% during the second quarter. Platinum Investment Management Ltd. now owns 335,156 shares of the medical instruments supplier’s stock worth $1,437,000 after acquiring an additional 63,900 shares during the period. Geode Capital Management LLC increased its position in ConforMIS by 4.4% in the first quarter. Geode Capital Management LLC now owns 329,058 shares of the medical instruments supplier’s stock worth $1,717,000 after buying an additional 13,731 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new stake in ConforMIS in the third quarter worth $859,000. Institutional investors and hedge funds own 36.04% of the company’s stock.
Several analysts recently weighed in on CFMS shares. Canaccord Genuity dropped their price objective on ConforMIS from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 4th. Zacks Investment Research cut ConforMIS from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a report on Thursday, November 2nd. ValuEngine raised ConforMIS from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Oppenheimer set a $6.00 price target on ConforMIS and gave the company a “buy” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.85.
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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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