ConforMIS (CFMS) Trading Up 11.9%

ConforMIS Inc (NASDAQ:CFMS) shares were up 11.9% during mid-day trading on Tuesday . The stock traded as high as $1.40 and last traded at $1.41. Approximately 32,813 shares changed hands during trading, a decline of 96% from the average daily volume of 771,567 shares. The stock had previously closed at $1.26.

Several research firms have weighed in on CFMS. Cowen reiterated a “buy” rating and set a $3.00 price objective on shares of ConforMIS in a research report on Friday, November 2nd. Zacks Investment Research raised ConforMIS from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Monday, November 5th. ValuEngine raised ConforMIS from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Oppenheimer set a $3.00 price target on ConforMIS and gave the company a “buy” rating in a research report on Friday, December 14th. Finally, Canaccord Genuity dropped their price target on ConforMIS from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. ConforMIS currently has a consensus rating of “Buy” and a consensus price target of $2.45.

The firm has a market capitalization of $79.72 million, a PE ratio of -1.74 and a beta of 2.53. The company has a quick ratio of 4.91, a current ratio of 5.71 and a debt-to-equity ratio of 0.68.

ConforMIS (NASDAQ:CFMS) last announced its earnings results on Wednesday, February 6th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The business had revenue of $22.05 million for the quarter, compared to analyst estimates of $21.45 million. ConforMIS had a negative return on equity of 85.08% and a negative net margin of 48.30%. Analysts anticipate that ConforMIS Inc will post -0.43 earnings per share for the current year.

In other news, major shareholder Archon Capital Management Llc acquired 560,000 shares of ConforMIS stock in a transaction dated Wednesday, January 2nd. The shares were purchased at an average cost of $0.41 per share, for a total transaction of $229,600.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.59% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC lifted its holdings in ConforMIS by 76.2% in the 4th quarter. Gabelli Funds LLC now owns 104,056 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 45,000 shares during the period. Acadian Asset Management LLC lifted its holdings in ConforMIS by 26.0% in the 4th quarter. Acadian Asset Management LLC now owns 127,166 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 26,202 shares during the period. Millennium Management LLC lifted its holdings in ConforMIS by 78.1% in the 2nd 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 period. Sio Capital Management LLC lifted its holdings in ConforMIS by 13.2% in the 3rd quarter. Sio Capital Management LLC now owns 1,861,789 shares of the medical instruments supplier’s stock worth $1,973,000 after buying an additional 217,275 shares during the period. Finally, Vanguard Group Inc lifted its holdings in ConforMIS by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 2,230,254 shares of the medical instruments supplier’s stock worth $2,364,000 after buying an additional 28,556 shares during the period. Institutional investors and hedge funds own 36.19% of the company’s stock.

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About ConforMIS (NASDAQ:CFMS)

ConforMIS, Inc is a holding company, which engages in the development, manufacture, and sale of joint replacement implants. Its products include iTotal, iUni and iDuo, and iJig Instrumentation. The company was founded Philipp Lang in 2004 and is headquartered in Bedford, MA.

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