ConforMIS, Inc. (CFMS) Rating Increased to Sell at ValuEngine
ConforMIS, Inc. (NASDAQ:CFMS) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday.
Several other brokerages have also recently issued reports on CFMS. Oppenheimer Holdings, Inc. set a $9.00 price objective on ConforMIS and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Canaccord Genuity set a $8.00 price objective on ConforMIS and gave the stock a “hold” rating in a research note on Thursday, May 11th. B. Riley reaffirmed a “buy” rating and set a $7.50 target price on shares of ConforMIS in a report on Thursday, May 11th. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.75.
ConforMIS (NASDAQ:CFMS) traded up 2.16% during midday trading on Friday, reaching $3.78. The company had a trading volume of 137,472 shares. ConforMIS has a 1-year low of $3.22 and a 1-year high of $10.93. The company’s market capitalization is $169.48 million. The firm has a 50-day moving average of $4.06 and a 200 day moving average of $4.71.
ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.08. ConforMIS had a negative return on equity of 66.61% and a negative net margin of 72.87%. The firm had revenue of $18.50 million during the quarter, compared to analysts’ expectations of $19.34 million. During the same period last year, the business posted ($0.34) earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that ConforMIS will post ($1.30) EPS for the current year.
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In related news, Director Bradley Langdale sold 6,722 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $4.30, for a total transaction of $28,904.60. Following the sale, the director now directly owns 26,533 shares of the company’s stock, valued at $114,091.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.55% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in ConforMIS by 2.4% in the first quarter. Wellington Management Group LLP now owns 5,644,206 shares of the medical instruments supplier’s stock valued at $29,463,000 after buying an additional 132,211 shares during the period. State Street Corp raised its stake in ConforMIS by 1.5% in the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock valued at $2,550,000 after buying an additional 8,693 shares during the period. Northern Trust Corp raised its stake in ConforMIS by 15.2% in the second quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock valued at $1,950,000 after buying an additional 60,034 shares during the period. Platinum Investment Management Ltd. raised its stake in ConforMIS by 23.6% in the second quarter. Platinum Investment Management Ltd. now owns 335,156 shares of the medical instruments supplier’s stock valued at $1,437,000 after buying an additional 63,900 shares during the period. Finally, Geode Capital Management LLC raised its stake in ConforMIS by 4.4% in the first quarter. Geode Capital Management LLC now owns 329,058 shares of the medical instruments supplier’s stock valued at $1,717,000 after buying an additional 13,731 shares during the period. 34.05% of the stock is currently owned by hedge funds and other institutional investors.
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.
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