Analysts Set ConforMIS Inc. (CFMS) Price Target at $14.07
Shares of ConforMIS Inc. (NASDAQ:CFMS) have received an average rating of “Buy” from the nine ratings firms that are presently covering the stock. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.07.
A number of research firms have weighed in on CFMS. JPMorgan Chase & Co. cut their price objective on shares of ConforMIS from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, August 9th. SunTrust Banks Inc. began coverage on shares of ConforMIS in a report on Monday, September 19th. They set a “buy” rating and a $14.00 price objective on the stock. B. Riley began coverage on shares of ConforMIS in a report on Wednesday, September 21st. They set a “buy” rating and a $13.00 price objective on the stock. Zacks Investment Research raised shares of ConforMIS from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, November 8th. Finally, Oppenheimer Holdings Inc. raised their price objective on shares of ConforMIS from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th.
In related news, insider Daniel Steines sold 30,000 shares of ConforMIS stock in a transaction on Friday, September 16th. The shares were sold at an average price of $9.09, for a total value of $272,700.00. Following the transaction, the insider now directly owns 245,213 shares in the company, valued at approximately $2,228,986.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth P. Fallon III sold 4,000 shares of ConforMIS stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $8.44, for a total transaction of $33,760.00. Following the completion of the transaction, the director now owns 92,222 shares in the company, valued at $778,353.68. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CFMS. Papp L Roy & Associates purchased a new position in ConforMIS during the third quarter worth $106,000. Raymond James & Associates purchased a new position in ConforMIS during the second quarter worth $113,000. BlackRock Advisors LLC raised its position in ConforMIS by 15.0% in the third quarter. BlackRock Advisors LLC now owns 12,381 shares of the company’s stock worth $123,000 after buying an additional 1,615 shares during the period. Oak Ridge Investments LLC purchased a new position in ConforMIS during the second quarter worth $127,000. Finally, American International Group Inc. raised its position in ConforMIS by 242.6% in the second quarter. American International Group Inc. now owns 20,584 shares of the company’s stock worth $144,000 after buying an additional 14,575 shares during the period. Hedge funds and other institutional investors own 41.52% of the company’s stock.
ConforMIS (NASDAQ:CFMS) opened at 9.77 on Friday. The firm’s market capitalization is $417.75 million. ConforMIS has a 1-year low of $4.80 and a 1-year high of $22.60. The company has a 50 day moving average of $8.99 and a 200 day moving average of $8.34.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. ConforMIS had a negative net margin of 73.53% and a negative return on equity of 44.28%. The company had revenue of $18.60 million for the quarter, compared to analysts’ expectations of $18.27 million. During the same quarter last year, the company earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. Analysts forecast that ConforMIS will post ($1.31) EPS for the current year.
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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