$19.48 Million in Sales Expected for ConforMIS (CFMS) This Quarter

Brokerages predict that ConforMIS (NASDAQ:CFMS) will report $19.48 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for ConforMIS’s earnings, with estimates ranging from $19.04 million to $20.04 million. ConforMIS posted sales of $18.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The business is expected to announce its next earnings results on Thursday, August 2nd.

On average, analysts expect that ConforMIS will report full year sales of $81.96 million for the current year, with estimates ranging from $80.90 million to $83.75 million. For the next fiscal year, analysts anticipate that the business will report sales of $92.17 million per share, with estimates ranging from $88.90 million to $93.97 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow ConforMIS.

ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings data on Wednesday, May 2nd. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.03. The business had revenue of $19.66 million for the quarter, compared to the consensus estimate of $19.51 million. ConforMIS had a negative net margin of 62.63% and a negative return on equity of 83.49%.



CFMS has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of ConforMIS from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Oppenheimer reaffirmed a “buy” rating on shares of ConforMIS in a research note on Thursday, March 22nd. Canaccord Genuity raised shares of ConforMIS from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Tuesday, April 10th. ValuEngine downgraded shares of ConforMIS from a “sell” rating to a “strong sell” rating in a research note on Monday, April 2nd. Finally, Cowen initiated coverage on shares of ConforMIS in a research note on Wednesday, February 21st. They set an “outperform” rating and a $4.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $3.58.

In other news, insider Daniel Steines sold 277,064 shares of the stock in a transaction on Monday, April 30th. The shares were sold at an average price of $1.41, for a total value of $390,660.24. Following the completion of the sale, the insider now owns 232,307 shares of the company’s stock, valued at $327,552.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bradley Langdale sold 75,764 shares of the stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $1.52, for a total transaction of $115,161.28. Following the completion of the sale, the director now directly owns 95,055 shares of the company’s stock, valued at approximately $144,483.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,042,234 shares of company stock worth $1,457,539. 7.59% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Sio Capital Management LLC acquired a new stake in shares of ConforMIS in the first quarter worth $3,191,000. Platinum Investment Management Ltd. increased its position in shares of ConforMIS by 78.0% in the first quarter. Platinum Investment Management Ltd. now owns 596,656 shares of the medical instruments supplier’s stock worth $865,000 after acquiring an additional 261,500 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of ConforMIS in the first quarter worth $183,000. Altrinsic Global Advisors LLC increased its position in shares of ConforMIS by 17.9% in the first quarter. Altrinsic Global Advisors LLC now owns 328,942 shares of the medical instruments supplier’s stock worth $477,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Archon Capital Management LLC acquired a new stake in shares of ConforMIS in the first quarter worth $4,408,000. 24.55% of the stock is owned by institutional investors.

Shares of ConforMIS traded up $0.02, hitting $1.33, on Wednesday, according to Marketbeat. 322,165 shares of the stock traded hands, compared to its average volume of 530,332. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.34 and a current ratio of 5.95. The company has a market capitalization of $79.79 million, a price-to-earnings ratio of -1.07 and a beta of 1.02. ConforMIS has a 1 year low of $1.15 and a 1 year high of $5.73.

About ConforMIS

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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Earnings History and Estimates for ConforMIS (NASDAQ:CFMS)

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