Daniel Steines Sells 10,000 Shares of ConforMIS Inc. (CFMS) Stock
ConforMIS Inc. (NASDAQ:CFMS) CTO Daniel Steines sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $10.03, for a total value of $100,300.00. Following the transaction, the chief technology officer now owns 225,213 shares in the company, valued at approximately $2,258,886.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Daniel Steines also recently made the following trade(s):
- On Friday, September 16th, Daniel Steines sold 30,000 shares of ConforMIS stock. The stock was sold at an average price of $9.09, for a total value of $272,700.00.
ConforMIS Inc. (NASDAQ:CFMS) opened at 10.39 on Friday. The company has a 50-day moving average price of $8.86 and a 200 day moving average price of $8.81. ConforMIS Inc. has a 52-week low of $4.80 and a 52-week high of $23.62. The company’s market capitalization is $437.70 million.
ConforMIS (NASDAQ:CFMS) last released its earnings results on Monday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.01. The company had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.02 million. ConforMIS had a negative net margin of 84.33% and a negative return on equity of 45.30%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned ($2.51) EPS. Equities research analysts anticipate that ConforMIS Inc. will post ($1.40) earnings per share for the current year.
A number of research analysts have weighed in on CFMS shares. SunTrust Banks Inc. started coverage on ConforMIS in a report on Monday, September 19th. They set a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on ConforMIS from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, August 9th. Zacks Investment Research upgraded ConforMIS from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Oppenheimer Holdings Inc. upped their target price on ConforMIS from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Finally, B. Riley initiated coverage on ConforMIS in a research note on Wednesday, September 21st. They issued a “buy” rating and a $13.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $14.86.
A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in ConforMIS by 58.1% in the first quarter. Wellington Management Group LLP now owns 5,187,018 shares of the company’s stock worth $55,760,000 after buying an additional 1,905,943 shares during the period. Vanguard Group Inc. raised its stake in ConforMIS by 31.2% in the second quarter. Vanguard Group Inc. now owns 1,866,848 shares of the company’s stock worth $13,105,000 after buying an additional 444,327 shares during the period. Redmile Group LLC raised its stake in ConforMIS by 32.2% in the second quarter. Redmile Group LLC now owns 1,047,821 shares of the company’s stock worth $7,356,000 after buying an additional 255,466 shares during the period. BlackRock Fund Advisors raised its stake in ConforMIS by 242.4% in the second quarter. BlackRock Fund Advisors now owns 931,053 shares of the company’s stock worth $6,536,000 after buying an additional 659,159 shares during the period. Finally, Franklin Resources Inc. raised its stake in ConforMIS by 28.7% in the first quarter. Franklin Resources Inc. now owns 726,700 shares of the company’s stock worth $7,813,000 after buying an additional 162,100 shares during the period. Institutional investors own 41.13% of the company’s stock.
ConforMIS, Inc is a medical technology company that uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants. The Company’s products include iTotal CR, which is the cruciate-retaining, customized total knee replacement system to restore the natural shape of a patient’s knee; iTotal PS, which is the posterior cruciate ligament substituting, or posterior-stabilized, customized total knee replacement product to restore the natural shape of a patient’s knee; iDuo, which is the customized bicompartmental knee replacement system, and iUni, which is the customized unicompartmental knee replacement product for treatment of the medial or lateral compartment of the knee.
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