Cowen started coverage on shares of ConforMIS (NASDAQ:CFMS) in a note issued to investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the medical instruments supplier’s stock.
Other equities analysts have also recently issued research reports about the stock. Oppenheimer set a $4.00 price objective on shares of ConforMIS and gave the company a “buy” rating in a research note on Thursday, February 8th. BTIG Research reissued a “buy” rating and issued a $4.00 price target on shares of ConforMIS in a research note on Wednesday, January 10th. Zacks Investment Research cut shares of ConforMIS from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Canaccord Genuity cut their price target on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut shares of ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. ConforMIS has an average rating of “Hold” and a consensus price target of $4.88.
ConforMIS (NASDAQ CFMS) opened at $1.39 on Wednesday. The company has a market cap of $85.35, a P/E ratio of -1.12 and a beta of 1.41. ConforMIS has a 12 month low of $1.15 and a 12 month high of $6.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.38 and a current ratio of 6.19.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings data on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.03. The company had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $20.07 million. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 78.44%. ConforMIS’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.37) earnings per share. equities analysts forecast that ConforMIS will post -0.86 EPS for the current year.
In other ConforMIS news, CEO Mark A. Augusti sold 16,548 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $2.27, for a total value of $37,563.96. Following the completion of the transaction, the chief executive officer now owns 285,007 shares of the company’s stock, valued at approximately $646,965.89. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 43,691 shares of company stock valued at $91,154. Corporate insiders own 9.55% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its stake in ConforMIS by 331.2% in the 3rd quarter. Citadel Advisors LLC now owns 113,972 shares of the medical instruments supplier’s stock worth $401,000 after buying an additional 87,540 shares in the last quarter. Ark Investment Management LLC lifted its holdings in shares of ConforMIS by 208.5% in the 2nd quarter. Ark Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock worth $825,000 after acquiring an additional 130,009 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of ConforMIS by 15.2% in the 2nd 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 last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ConforMIS by 35.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock worth $737,000 after acquiring an additional 45,096 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new stake in shares of ConforMIS in the 3rd quarter worth approximately $859,000. 23.19% of the stock is owned by institutional investors and hedge funds.
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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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