ConforMIS (CFMS) Given a $3.00 Price Target by Oppenheimer Analysts

ConforMIS (NASDAQ:CFMS) has been assigned a $3.00 price objective by Oppenheimer in a research report issued on Thursday. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Oppenheimer’s price target would indicate a potential upside of 293.34% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Canaccord Genuity lowered their target price on ConforMIS from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday. Zacks Investment Research downgraded ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $3.00 target price on shares of ConforMIS in a research report on Thursday, August 2nd. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of ConforMIS in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $2.55.

Shares of NASDAQ:CFMS traded down $0.02 during midday trading on Thursday, reaching $0.76. The company had a trading volume of 316,813 shares, compared to its average volume of 204,156. The company has a debt-to-equity ratio of 0.60, a quick ratio of 4.15 and a current ratio of 4.77. The company has a market cap of $53.94 million, a P/E ratio of -0.62 and a beta of 1.23. ConforMIS has a 1-year low of $0.73 and a 1-year high of $3.83.

ConforMIS (NASDAQ:CFMS) last released its earnings results on Wednesday, October 31st. The medical instruments supplier reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. The business had revenue of $28.98 million for the quarter, compared to the consensus estimate of $19.21 million. ConforMIS had a negative return on equity of 87.24% and a negative net margin of 51.25%. As a group, equities analysts predict that ConforMIS will post -0.83 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in ConforMIS by 104.6% during the second quarter. Renaissance Technologies LLC now owns 3,006,900 shares of the medical instruments supplier’s stock worth $3,759,000 after buying an additional 1,537,565 shares during the last quarter. BlackRock Inc. increased its position in ConforMIS by 2.6% during the first quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock worth $3,478,000 after buying an additional 61,539 shares during the last quarter. ARK Investment Management LLC increased its position in ConforMIS by 64.7% during the second quarter. ARK Investment Management LLC now owns 1,158,321 shares of the medical instruments supplier’s stock worth $1,448,000 after buying an additional 455,160 shares during the last quarter. Millennium Management LLC increased its position in ConforMIS by 78.1% during the second quarter. Millennium Management LLC now owns 734,165 shares of the medical instruments supplier’s stock worth $918,000 after buying an additional 321,845 shares during the last quarter. Finally, Northern Trust Corp increased its position in ConforMIS by 20.2% during the first quarter. Northern Trust Corp now owns 538,985 shares of the medical instruments supplier’s stock worth $782,000 after buying an additional 90,447 shares during the last quarter. 40.16% of the stock is currently owned by hedge funds and other institutional investors.

ConforMIS Company Profile

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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Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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