ConforMIS’s (CFMS) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of ConforMIS (NASDAQ:CFMS) in a research note released on Wednesday, January 10th. The brokerage currently has a $4.00 price objective on the medical instruments supplier’s stock.

A number of other brokerages have also recently commented on CFMS. Zacks Investment Research cut shares of ConforMIS from a buy rating to a hold rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. cut shares of ConforMIS from a neutral rating to an underweight rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. ConforMIS has a consensus rating of Hold and an average price target of $5.54.

Shares of ConforMIS (CFMS) traded up $0.07 on Wednesday, reaching $2.40. 388,185 shares of the company’s stock were exchanged, compared to its average volume of 292,680. The company has a quick ratio of 5.38, a current ratio of 6.19 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $108.70, a PE ratio of -1.79 and a beta of 2.21. ConforMIS has a twelve month low of $2.21 and a twelve month high of $8.61.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.03. The business had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $17.55 million. ConforMIS had a negative net margin of 72.70% and a negative return on equity of 76.88%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. research analysts forecast that ConforMIS will post -1.27 EPS for the current fiscal year.

In other news, insider David Cerveny sold 16,392 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total transaction of $51,962.64. Following the transaction, the insider now owns 151,408 shares of the company’s stock, valued at approximately $479,963.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul S. Weiner sold 17,723 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $3.17, for a total transaction of $56,181.91. Following the transaction, the chief financial officer now directly owns 162,009 shares in the company, valued at approximately $513,568.53. The disclosure for this sale can be found here. Insiders have sold a total of 83,248 shares of company stock worth $235,021 in the last three months. Insiders own 9.55% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC raised its holdings in shares of ConforMIS by 331.2% in the 3rd quarter. Citadel Advisors LLC now owns 113,972 shares of the medical instruments supplier’s stock worth $401,000 after acquiring an additional 87,540 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of ConforMIS by 23.6% in the 2nd quarter. Platinum Investment Management Ltd. now owns 335,156 shares of the medical instruments supplier’s stock worth $1,437,000 after acquiring an additional 63,900 shares during the last quarter. Ark Investment Management LLC raised its holdings in shares of ConforMIS by 208.5% in the 2nd quarter. Ark Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock worth $825,000 after acquiring an additional 130,009 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ConforMIS by 15.2% in the 2nd quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock worth $1,950,000 after acquiring an additional 60,034 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ConforMIS by 35.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock worth $737,000 after acquiring an additional 45,096 shares during the last quarter. Institutional investors own 35.57% of the company’s stock.

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About ConforMIS

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.

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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