Wells Fargo & Company MN raised its position in shares of ConforMIS, Inc. (NASDAQ:CFMS) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,930 shares of the medical instruments supplier’s stock after buying an additional 935 shares during the period. Wells Fargo & Company MN owned 0.12% of ConforMIS worth $282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Columbus Circle Investors acquired a new position in ConforMIS during the first quarter worth approximately $792,000. State Street Corp increased its position in ConforMIS by 16.1% in the fourth quarter. State Street Corp now owns 590,119 shares of the medical instruments supplier’s stock worth $4,782,000 after buying an additional 81,767 shares during the period. Creative Planning acquired a new position in ConforMIS during the first quarter worth approximately $236,000. Stonebridge Capital Management Inc. acquired a new position in ConforMIS during the first quarter worth approximately $220,000. Finally, Russell Investments Group Ltd. acquired a new position in ConforMIS during the fourth quarter worth approximately $311,000. 39.31% of the stock is currently owned by institutional investors and hedge funds.

ConforMIS, Inc. (NASDAQ CFMS) opened at 4.44 on Wednesday. ConforMIS, Inc. has a 52-week low of $3.79 and a 52-week high of $10.93. The stock’s market cap is $194.69 million. The firm’s 50-day moving average is $4.21 and its 200-day moving average is $5.66.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by $0.04. The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $18.48 million. ConforMIS had a negative return on equity of 60.57% and a negative net margin of 74.55%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.37) EPS. Equities research analysts predict that ConforMIS, Inc. will post ($1.43) earnings per share for the current year.

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A number of research analysts have commented on CFMS shares. Canaccord Genuity set a $8.00 target price on shares of ConforMIS and gave the company a “hold” rating in a research report on Thursday, May 11th. Zacks Investment Research raised shares of ConforMIS from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Oppenheimer Holdings, Inc. set a $9.00 target price on shares of ConforMIS and gave the company a “buy” rating in a research report on Wednesday, May 10th. BTIG Research reissued a “hold” rating on shares of ConforMIS in a research report on Monday, June 26th. Finally, B. Riley reissued a “buy” rating and set a $7.50 target price on shares of ConforMIS in a research report on Tuesday, May 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $9.04.

In related news, insider Daniel Steines sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $5.54, for a total value of $27,700.00. Following the sale, the insider now owns 190,745 shares of the company’s stock, valued at $1,056,727.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bradley Langdale sold 6,722 shares of the firm’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 completion of the sale, the director now directly owns 26,533 shares in the company, valued at approximately $114,091.90. The disclosure for this sale can be found here. 9.55% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for ConforMIS (NASDAQ:CFMS)

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