Zacks Investment Research cut shares of ConforMIS (NASDAQ:CFMS) from a hold rating to a sell rating in a report published on Monday morning.

According to Zacks, “ConforMIS, Inc. is a medical technology company which develops, manufacture and sells joint replacement implants. The Company’s iFit technology platform consists of iFit Design, iFit Printing and iFit Just-in-Time Delivery. It operates primarily in the United States, Germany and the United Kingdom. The Company serves orthopedic surgeons, hospitals and other medical facilities and patients. ConforMIS, Inc. is based in Bedford, United States. “

Several other brokerages have also recently commented on CFMS. Oppenheimer set a $3.00 price objective on shares of ConforMIS and gave the company a buy rating in a research note on Friday, December 14th. ValuEngine raised shares of ConforMIS from a sell rating to a hold rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $2.45.

NASDAQ CFMS opened at $2.58 on Monday. ConforMIS has a 12-month low of $0.36 and a 12-month high of $2.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.38 and a current ratio of 4.22.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, February 6th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. ConforMIS had a negative net margin of 48.30% and a negative return on equity of 91.73%. The company had revenue of $22.05 million for the quarter, compared to analyst estimates of $21.45 million. As a group, equities research analysts anticipate that ConforMIS will post -0.43 earnings per share for the current fiscal year.

In other news, major shareholder Archon Capital Management Llc acquired 560,000 shares of ConforMIS stock in a transaction that occurred on Wednesday, January 2nd. The stock was bought at an average price of $0.41 per share, with a total value of $229,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.59% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of CFMS. Renaissance Technologies LLC grew its stake in ConforMIS by 10.0% during the third quarter. Renaissance Technologies LLC now owns 3,306,461 shares of the medical instruments supplier’s stock valued at $3,505,000 after acquiring an additional 299,561 shares in the last quarter. Sio Capital Management LLC grew its stake in ConforMIS by 13.2% in the 3rd quarter. Sio Capital Management LLC now owns 1,861,789 shares of the medical instruments supplier’s stock worth $1,973,000 after buying an additional 217,275 shares in the last quarter. Vanguard Group Inc grew its stake in ConforMIS by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 2,230,254 shares of the medical instruments supplier’s stock worth $2,364,000 after buying an additional 28,556 shares in the last quarter. Gabelli Funds LLC grew its stake in ConforMIS by 76.2% in the 4th quarter. Gabelli Funds LLC now owns 104,056 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 45,000 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in ConforMIS by 26.0% in the 4th quarter. Acadian Asset Management LLC now owns 127,166 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 26,202 shares in the last quarter. 31.74% of the stock is owned by institutional investors.

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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Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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