ConforMIS (NASDAQ:CFMS) announced its quarterly earnings results on Wednesday. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01, Morningstar.com reports. The business had revenue of $19.59 million during the quarter, compared to the consensus estimate of $19.36 million. ConforMIS had a negative net margin of 34.68% and a negative return on equity of 86.29%.
Shares of CFMS traded up $0.04 during mid-day trading on Friday, hitting $1.53. The company had a trading volume of 1,879,857 shares, compared to its average volume of 1,115,963. The business has a 50-day moving average of $3.57. The company has a current ratio of 3.00, a quick ratio of 2.33 and a debt-to-equity ratio of 0.64. ConforMIS has a 1-year low of $0.36 and a 1-year high of $4.83. The company has a market cap of $187.30 million, a PE ratio of -2.07 and a beta of 2.28.
Several equities analysts have weighed in on the stock. BidaskClub downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Zacks Investment Research upgraded shares of ConforMIS from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday. ValuEngine downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. BTIG Research downgraded shares of ConforMIS from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Oppenheimer set a $4.00 price target on shares of ConforMIS and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $3.10.
In other news, Director Bradley Langdale sold 20,542 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $2.88, for a total transaction of $59,160.96. Following the transaction, the director now directly owns 115,484 shares of the company’s stock, valued at $332,593.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Archon Capital Management Llc sold 164,796 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $3.21, for a total transaction of $528,995.16. The disclosure for this sale can be found here. Insiders sold 1,317,864 shares of company stock worth $4,348,455 over the last three months. Corporate insiders own 3.38% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CFMS. Chicago Equity Partners LLC bought a new position in shares of ConforMIS during the 2nd quarter valued at about $640,000. ARK Investment Management LLC acquired a new position in shares of ConforMIS during the 2nd quarter worth approximately $1,910,000. Steward Partners Investment Advisory LLC acquired a new position in shares of ConforMIS during the 2nd quarter worth approximately $44,000. CAPROCK Group Inc. increased its position in shares of ConforMIS by 87.5% during the 2nd quarter. CAPROCK Group Inc. now owns 150,000 shares of the medical instruments supplier’s stock worth $654,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Altrinsic Global Advisors LLC increased its position in shares of ConforMIS by 11.7% during the 1st quarter. Altrinsic Global Advisors LLC now owns 478,942 shares of the medical instruments supplier’s stock worth $1,379,000 after purchasing an additional 50,000 shares during the last quarter. 33.95% of the stock is currently owned by institutional investors and hedge funds.
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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