Brokerages expect ConforMIS Inc (NASDAQ:CFMS) to announce $19.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for ConforMIS’s earnings, with the highest sales estimate coming in at $19.48 million and the lowest estimate coming in at $19.07 million. ConforMIS posted sales of $18.43 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.2%. The firm is expected to announce its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that ConforMIS will report full year sales of $80.47 million for the current financial year, with estimates ranging from $80.05 million to $80.92 million. For the next year, analysts expect that the company will post sales of $89.65 million per share, with estimates ranging from $87.89 million to $91.23 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover ConforMIS.
ConforMIS (NASDAQ:CFMS) last issued its earnings results on Friday, August 3rd. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company had revenue of $19.10 million during the quarter, compared to analyst estimates of $19.52 million. ConforMIS had a negative return on equity of 94.69% and a negative net margin of 64.66%.
A number of equities analysts have recently weighed in on CFMS shares. ValuEngine upgraded ConforMIS from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research upgraded ConforMIS from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Wednesday, July 18th. BTIG Research reiterated a “buy” rating and set a $3.00 price target on shares of ConforMIS in a report on Thursday, August 2nd. SunTrust Banks reiterated a “buy” rating on shares of ConforMIS in a report on Monday, July 16th. Finally, Oppenheimer set a $4.00 price target on ConforMIS and gave the stock a “buy” rating in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $3.25.
A number of institutional investors have recently made changes to their positions in CFMS. Archon Capital Management LLC purchased a new position in shares of ConforMIS in the 1st quarter valued at about $4,408,000. Renaissance Technologies LLC raised its position in shares of ConforMIS by 104.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,006,900 shares of the medical instruments supplier’s stock worth $3,759,000 after acquiring an additional 1,537,565 shares in the last quarter. BlackRock Inc. raised its position in shares of ConforMIS by 2.6% during the 1st quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock worth $3,478,000 after acquiring an additional 61,539 shares in the last quarter. Sio Capital Management LLC acquired a new stake in shares of ConforMIS during the 1st quarter worth about $3,191,000. Finally, ARK Investment Management LLC raised its position in shares of ConforMIS by 64.7% during the 2nd quarter. ARK Investment Management LLC now owns 1,158,321 shares of the medical instruments supplier’s stock worth $1,448,000 after acquiring an additional 455,160 shares in the last quarter. Institutional investors own 40.13% of the company’s stock.
Shares of NASDAQ CFMS traded up $0.07 during mid-day trading on Friday, reaching $1.18. 14,595 shares of the company’s stock were exchanged, compared to its average volume of 223,860. The stock has a market cap of $70.75 million, a PE ratio of -0.95 and a beta of 1.12. The company has a current ratio of 4.77, a quick ratio of 4.15 and a debt-to-equity ratio of 0.60. ConforMIS has a 52-week low of $0.88 and a 52-week high of $4.17.
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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