ConforMIS Inc (NASDAQ:CFMS) has received an average rating of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $2.50.

A number of equities research analysts recently commented on CFMS shares. Zacks Investment Research cut shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Tuesday, May 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $2.00 price target on shares of ConforMIS in a report on Tuesday. Oppenheimer reduced their price objective on shares of ConforMIS from $3.50 to $3.00 and set an “outperform” rating for the company in a research note on Tuesday. BTIG Research reiterated a “hold” rating on shares of ConforMIS in a research note on Tuesday. Finally, ValuEngine upgraded shares of ConforMIS from a “hold” rating to a “buy” rating in a research note on Friday, May 1st.

ConforMIS stock opened at $0.92 on Wednesday. ConforMIS has a 52 week low of $0.50 and a 52 week high of $4.83. The company’s 50 day moving average price is $0.73 and its two-hundred day moving average price is $1.19. The company has a quick ratio of 2.26, a current ratio of 2.94 and a debt-to-equity ratio of 2.24. The stock has a market cap of $68.08 million, a P/E ratio of -2.09 and a beta of 2.06.

ConforMIS (NASDAQ:CFMS) last posted its earnings results on Monday, May 11th. The medical instruments supplier reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.04). The firm had revenue of $16.48 million for the quarter, compared to the consensus estimate of $18.95 million. ConforMIS had a negative return on equity of 121.27% and a negative net margin of 36.78%. On average, equities analysts anticipate that ConforMIS will post -0.38 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFMS. ARK Investment Management LLC grew its position in ConforMIS by 15.0% in the fourth quarter. ARK Investment Management LLC now owns 425,240 shares of the medical instruments supplier’s stock worth $638,000 after acquiring an additional 55,580 shares in the last quarter. Principal Financial Group Inc. lifted its stake in ConforMIS by 184.5% in the fourth quarter. Principal Financial Group Inc. now owns 38,794 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 25,156 shares during the last quarter. State Street Corp raised its stake in shares of ConforMIS by 7.3% during the fourth quarter. State Street Corp now owns 1,379,492 shares of the medical instruments supplier’s stock valued at $2,069,000 after acquiring an additional 93,832 shares during the last quarter. Royce & Associates LP raised its stake in shares of ConforMIS by 25.1% during the fourth quarter. Royce & Associates LP now owns 49,792 shares of the medical instruments supplier’s stock valued at $75,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of ConforMIS by 102.6% during the fourth quarter. Barclays PLC now owns 64,657 shares of the medical instruments supplier’s stock valued at $97,000 after acquiring an additional 32,737 shares during the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

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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