ConforMIS, Inc. (NASDAQ:CFMS)‘s stock had its “hold” rating reaffirmed by stock analysts at Deutsche Bank AG in a research report issued on Friday, August 4th, MarketBeat.com reports. They currently have a $5.00 price objective on the medical instruments supplier’s stock, down from their prior price objective of $6.00. Deutsche Bank AG’s price objective points to a potential upside of 47.06% from the stock’s previous close.
Several other brokerages have also weighed in on CFMS. B. Riley restated a “buy” rating and set a $7.50 target price on shares of ConforMIS in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of ConforMIS from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. BTIG Research restated a “hold” rating on shares of ConforMIS in a research report on Monday, June 26th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of ConforMIS in a research report on Tuesday, June 20th. Finally, Canaccord Genuity set a $8.00 price target on shares of ConforMIS and gave the company a “hold” rating in a research report on Thursday, May 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $7.75.
ConforMIS (NASDAQ:CFMS) traded down 0.87% during midday trading on Friday, hitting $3.40. The stock had a trading volume of 153,816 shares. ConforMIS has a 12 month low of $3.22 and a 12 month high of $10.93. The stock has a 50 day moving average of $4.30 and a 200 day moving average of $5.09. The stock’s market cap is $152.44 million.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.08. ConforMIS had a negative net margin of 72.87% and a negative return on equity of 66.61%. The business had revenue of $18.50 million for the quarter, compared to analyst estimates of $19.34 million. During the same period in the previous year, the business posted ($0.34) earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts expect that ConforMIS will post ($1.30) EPS for the current fiscal year.
In related news, Director Bradley Langdale sold 6,722 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $4.30, for a total transaction of $28,904.60. Following the transaction, the director now owns 26,533 shares of the company’s stock, valued at $114,091.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.55% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in ConforMIS by 1.8% in the first quarter. Wells Fargo & Company MN now owns 53,930 shares of the medical instruments supplier’s stock worth $282,000 after buying an additional 935 shares in the last quarter. American International Group Inc. raised its stake in ConforMIS by 7.0% in the first quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock valued at $115,000 after buying an additional 1,448 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in ConforMIS by 21.4% in the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock valued at $158,000 after buying an additional 6,535 shares during the last quarter. Rhumbline Advisers raised its stake in ConforMIS by 21.8% in the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after buying an additional 8,017 shares during the last quarter. Finally, State Street Corp raised its stake in ConforMIS by 1.5% in the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock valued at $2,550,000 after buying an additional 8,693 shares during the last quarter. 38.58% of the stock is currently owned by institutional investors.
ConforMIS Company Profile
ConforMIS, Inc is a medical technology company. The Company uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants, which are individually sized and shaped, to fit each patient’s anatomy. The Company’s iFit technology platform is applicable to various joints.
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