ConforMIS Inc (CFMS) Sees Large Decrease in Short Interest

ConforMIS Inc (NASDAQ:CFMS) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,750,599 shares, a drop of 30.3% from the January 12th total of 2,511,764 shares. Approximately 5.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,295,167 shares, the short-interest ratio is presently 1.4 days.

A number of analysts recently issued reports on CFMS shares. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a research report on Monday. Oppenheimer set a $4.00 price objective on ConforMIS and gave the company a “buy” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. cut ConforMIS from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 2nd. BTIG Research raised ConforMIS from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Wednesday, December 20th. Finally, Canaccord Genuity reduced their price objective on ConforMIS from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. ConforMIS presently has a consensus rating of “Hold” and a consensus target price of $4.88.

ConforMIS (NASDAQ CFMS) traded down $0.05 on Wednesday, reaching $1.41. The company had a trading volume of 380,605 shares, compared to its average volume of 873,942. The firm has a market capitalization of $87.70, a PE ratio of -1.14 and a beta of 1.41. ConforMIS has a 52-week low of $1.15 and a 52-week high of $8.61. The company has a current ratio of 6.19, a quick ratio of 5.38 and a debt-to-equity ratio of 0.52.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. The firm had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $20.07 million. ConforMIS had a negative return on equity of 78.44% and a negative net margin of 68.59%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.37) earnings per share. research analysts forecast that ConforMIS will post -0.86 earnings per share for the current year.

In other news, CEO Mark A. Augusti sold 16,548 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $2.27, for a total value of $37,563.96. Following the completion of the sale, the chief executive officer now owns 285,007 shares of the company’s stock, valued at $646,965.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 43,691 shares of company stock valued at $91,154. 9.55% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new position in ConforMIS during the fourth quarter valued at about $130,000. Deutsche Bank AG raised its holdings in ConforMIS by 43.5% during the fourth quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 36,634 shares in the last quarter. Renaissance Technologies LLC raised its holdings in ConforMIS by 627.0% during the fourth quarter. Renaissance Technologies LLC now owns 346,800 shares of the medical instruments supplier’s stock valued at $825,000 after buying an additional 299,100 shares in the last quarter. Prosight Management LP bought a new position in ConforMIS during the fourth quarter valued at about $952,000. Finally, ARK Investment Management LLC raised its holdings in ConforMIS by 44.0% during the fourth quarter. ARK Investment Management LLC now owns 390,564 shares of the medical instruments supplier’s stock valued at $930,000 after buying an additional 119,355 shares in the last quarter. 26.99% of the stock is owned by hedge funds and other 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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