Zacks Investment Research upgraded shares of ConforMIS (NASDAQ:CFMS) from a hold rating to a buy rating in a research note issued to investors on Monday morning. The brokerage currently has $0.75 target price on the medical instruments supplier’s stock.
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. “
A number of other research analysts have also commented on CFMS. SunTrust Banks reiterated a buy rating on shares of ConforMIS in a report on Monday, July 16th. BTIG Research reiterated a buy rating and set a $3.00 price target on shares of ConforMIS in a report on Thursday, August 2nd. Oppenheimer set a $4.00 price target on ConforMIS and gave the stock a buy rating in a report on Thursday, August 2nd. Canaccord Genuity cut their price target on ConforMIS from $3.00 to $2.50 and set a buy rating for the company in a report on Thursday, November 1st. Finally, Cowen reiterated a buy rating and set a $3.00 price target on shares of ConforMIS in a report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. ConforMIS currently has an average rating of Buy and an average target price of $2.45.
Shares of CFMS stock traded up $0.01 during trading hours on Monday, reaching $0.74. 1,399 shares of the company’s stock were exchanged, compared to its average volume of 229,839. ConforMIS has a fifty-two week low of $0.73 and a fifty-two week high of $3.83. The firm has a market cap of $48.18 million, a PE ratio of -0.60 and a beta of 1.23. The company has a quick ratio of 4.15, a current ratio of 4.77 and a debt-to-equity ratio of 0.60.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. ConforMIS had a negative return on equity of 87.24% and a negative net margin of 51.25%. The company had revenue of $28.98 million during the quarter, compared to analyst estimates of $19.21 million. As a group, equities analysts predict that ConforMIS will post -0.82 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of CFMS. Renaissance Technologies LLC raised its stake in shares of ConforMIS by 104.6% in the second quarter. Renaissance Technologies LLC now owns 3,006,900 shares of the medical instruments supplier’s stock valued at $3,759,000 after purchasing an additional 1,537,565 shares in the last quarter. BlackRock Inc. raised its stake in shares of ConforMIS by 2.6% in the first quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock valued at $3,478,000 after purchasing an additional 61,539 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of ConforMIS by 64.7% in the second quarter. ARK Investment Management LLC now owns 1,158,321 shares of the medical instruments supplier’s stock valued at $1,448,000 after purchasing an additional 455,160 shares in the last quarter. Millennium Management LLC raised its stake in shares of ConforMIS by 78.1% in the second quarter. Millennium Management LLC now owns 734,165 shares of the medical instruments supplier’s stock valued at $918,000 after purchasing an additional 321,845 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of ConforMIS by 20.2% in the first quarter. Northern Trust Corp now owns 538,985 shares of the medical instruments supplier’s stock valued at $782,000 after purchasing an additional 90,447 shares in the last quarter. Institutional investors own 40.15% of the company’s stock.
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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