ConforMIS (NASDAQ:CFMS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “ConforMIS, Inc. is a medical technology company which develops, manufacture and sells joint replacement implants. The Company’s iFit technology platform consists of iFit Design, iFit Printing and iFit Just-in-Time Delivery. It operates primarily in the United States, Germany and the United Kingdom. The Company serves orthopedic surgeons, hospitals and other medical facilities and patients. ConforMIS, Inc. is based in Bedford, United States. “
Other research analysts also recently issued research reports about the company. Oppenheimer set a $4.00 target price on ConforMIS and gave the company a “buy” rating in a report on Thursday, May 3rd. BTIG Research reissued a “buy” rating and issued a $3.00 target price on shares of ConforMIS in a report on Thursday, May 3rd. Canaccord Genuity raised ConforMIS from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Tuesday, April 10th. Finally, ValuEngine raised ConforMIS from a “sell” rating to a “hold” rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $3.58.
ConforMIS traded down $0.02, reaching $1.21, during trading on Wednesday, MarketBeat.com reports. The stock had a trading volume of 406,743 shares, compared to its average volume of 568,889. ConforMIS has a 52 week low of $1.15 and a 52 week high of $5.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.34 and a current ratio of 5.95. The company has a market cap of $74.92 million, a price-to-earnings ratio of -0.98 and a beta of 1.08.
ConforMIS (NASDAQ:CFMS) last posted its earnings results on Wednesday, May 2nd. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. ConforMIS had a negative return on equity of 83.49% and a negative net margin of 62.63%. The company had revenue of $19.66 million for the quarter, compared to the consensus estimate of $19.51 million. equities analysts predict that ConforMIS will post -0.83 earnings per share for the current year.
In other news, insider Daniel Steines sold 277,064 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $1.41, for a total value of $390,660.24. Following the transaction, the insider now owns 232,307 shares of the company’s stock, valued at $327,552.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philipp Lang sold 651,212 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $1.38, for a total value of $898,672.56. Following the completion of the transaction, the director now directly owns 95,055 shares in the company, valued at approximately $131,175.90. The disclosure for this sale can be found here. Insiders sold 1,042,234 shares of company stock worth $1,457,539 in the last ninety days. Corporate insiders own 7.59% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Altrinsic Global Advisors LLC raised its stake 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 buying an additional 50,000 shares during the period. Spark Investment Management LLC raised its stake in shares of ConforMIS by 245.3% in the fourth quarter. Spark Investment Management LLC now owns 120,500 shares of the medical instruments supplier’s stock worth $286,000 after buying an additional 85,600 shares during the period. Sio Capital Management LLC bought a new position in shares of ConforMIS in the first quarter worth about $3,191,000. Platinum Investment Management Ltd. raised its stake in shares of ConforMIS by 78.0% in the first quarter. Platinum Investment Management Ltd. now owns 596,656 shares of the medical instruments supplier’s stock worth $865,000 after buying an additional 261,500 shares during the period. Finally, Archon Capital Management LLC bought a new position in shares of ConforMIS in the first quarter worth about $4,408,000. 44.11% of the stock is currently owned by hedge funds and other institutional investors.
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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