Zacks Investment Research upgraded shares of ConforMIS, Inc. (NASDAQ:CFMS) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $9.75 target price on the stock.

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. “

A number of other research firms have also commented on CFMS. Oppenheimer Holdings, Inc. set a $13.00 price objective on shares of ConforMIS and gave the company a buy rating in a research note on Monday, October 24th. Canaccord Genuity set a $12.00 price objective on shares of ConforMIS and gave the company a buy rating in a research note on Monday, January 23rd. B. Riley reaffirmed a buy rating and set a $7.50 price objective on shares of ConforMIS in a research note on Thursday. Finally, J P Morgan Chase & Co reaffirmed a hold rating and set a $11.00 price objective on shares of ConforMIS in a research note on Friday, November 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $10.61.

Shares of ConforMIS (NASDAQ:CFMS) traded down 35.09% during trading on Thursday, hitting $5.55. 3,615,755 shares of the stock traded hands. The firm’s market cap is $238.00 million. The company’s 50 day moving average is $8.38 and its 200 day moving average is $8.61. ConforMIS has a 52-week low of $4.80 and a 52-week high of $13.83.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings data on Wednesday, February 15th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.07. ConforMIS had a negative net margin of 73.53% and a negative return on equity of 46.41%. The firm had revenue of $21.70 million for the quarter, compared to analysts’ expectations of $21.37 million. On average, equities research analysts predict that ConforMIS will post ($1.31) EPS for the current year.

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In other news, insider David Cerveny sold 3,569 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $8.59, for a total value of $30,657.71. Following the completion of the sale, the insider now directly owns 87,501 shares of the company’s stock, valued at $751,633.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philipp Lang sold 30,647 shares of the stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $8.62, for a total transaction of $264,177.14. Following the completion of the sale, the director now directly owns 520,939 shares of the company’s stock, valued at $4,490,494.18. The disclosure for this sale can be found here. Insiders sold 739,090 shares of company stock valued at $6,234,841 over the last three months. 9.20% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Papp L Roy & Associates bought a new stake in ConforMIS during the third quarter worth about $106,000. Wells Fargo & Company MN increased its position in ConforMIS by 76.4% in the third quarter. Wells Fargo & Company MN now owns 41,793 shares of the company’s stock worth $414,000 after buying an additional 18,106 shares in the last quarter. Trent Capital Management Inc. NC purchased a new position in ConforMIS during the fourth quarter worth approximately $177,000. A.R.T. Advisors LLC purchased a new position in ConforMIS during the fourth quarter worth approximately $178,000. Finally, Kornitzer Capital Management Inc. KS increased its position in ConforMIS by 19.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 137,100 shares of the company’s stock worth $1,360,000 after buying an additional 22,100 shares in the last quarter. 39.63% of the stock is owned by institutional investors and hedge funds.

ConforMIS Company Profile

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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