ConforMIS (NASDAQ:CFMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $3.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 96.08% from the stock’s previous close.
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 brokerages have also recently weighed in on CFMS. BidaskClub cut ConforMIS from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Oppenheimer set a $4.00 target price on ConforMIS and gave the company a “buy” rating in a report on Thursday, May 2nd. ValuEngine lowered ConforMIS from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, BTIG Research lowered ConforMIS from a “buy” rating to a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $3.10.
NASDAQ CFMS traded up $0.04 on Thursday, reaching $1.53. The stock had a trading volume of 1,879,857 shares, compared to its average volume of 1,115,963. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.33 and a current ratio of 3.00. ConforMIS has a 12-month low of $0.36 and a 12-month high of $4.83. The company’s 50-day moving average is $3.57. The firm has a market capitalization of $187.30 million, a PE ratio of -2.07 and a beta of 2.28.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. ConforMIS had a negative return on equity of 86.29% and a negative net margin of 34.68%. The company had revenue of $19.59 million during the quarter, compared to analysts’ expectations of $19.36 million. On average, equities research analysts anticipate that ConforMIS will post -0.43 EPS for the current year.
In other news, CFO Paul S. Weiner sold 10,764 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $4.15, for a total value of $44,670.60. Following the transaction, the chief financial officer now owns 554,562 shares of the company’s stock, valued at $2,301,432.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul S. Weiner sold 12,612 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $2.72, for a total value of $34,304.64. Following the completion of the transaction, the chief financial officer now directly owns 568,629 shares in the company, valued at approximately $1,546,670.88. The disclosure for this sale can be found here. In the last three months, insiders sold 1,317,864 shares of company stock worth $4,348,455. Corporate insiders own 3.38% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Creative Planning grew its holdings in ConforMIS by 133.8% during the first quarter. Creative Planning now owns 116,922 shares of the medical instruments supplier’s stock worth $337,000 after acquiring an additional 66,922 shares during the period. Larson Financial Group LLC grew its holdings in ConforMIS by 588.6% during the first quarter. Larson Financial Group LLC now owns 24,100 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 20,600 shares during the period. Joseph P. Lucia & Associates LLC acquired a new position in ConforMIS during the first quarter worth $45,100,000. Cornerstone Advisory LLC acquired a new position in ConforMIS during the first quarter worth $72,000. Finally, Spark Investment Management LLC grew its holdings in ConforMIS by 172.2% during the first quarter. Spark Investment Management LLC now owns 500,000 shares of the medical instruments supplier’s stock worth $1,440,000 after acquiring an additional 316,300 shares during the period. 33.95% of the stock is currently owned by hedge funds and other institutional investors.
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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