BTIG Research Reiterates “Hold” Rating for ConforMIS, Inc. (CFMS)
ConforMIS, Inc. (NASDAQ:CFMS)‘s stock had its “hold” rating restated by investment analysts at BTIG Research in a report released on Thursday.
Other equities analysts have also issued reports about the company. Oppenheimer Holdings, Inc. set a $6.00 target price on ConforMIS and gave the stock a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity reduced their price target on ConforMIS from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, August 4th. ValuEngine upgraded ConforMIS from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $5.00 price objective (down previously from $6.00) on shares of ConforMIS in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.71.
ConforMIS (CFMS) traded up $0.17 on Thursday, reaching $3.52. 249,887 shares of the company’s stock were exchanged, compared to its average volume of 135,131. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.11 and a current ratio of 6.98.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.03. ConforMIS had a negative return on equity of 71.21% and a negative net margin of 72.70%. The business had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $17.55 million. During the same period in the previous year, the business posted ($0.31) earnings per share. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. equities analysts forecast that ConforMIS will post -1.29 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in ConforMIS by 1.8% in the 1st quarter. Wells Fargo & Company MN now owns 53,930 shares of the medical instruments supplier’s stock valued at $282,000 after acquiring an additional 935 shares during the period. Platinum Investment Management Ltd. raised its stake in ConforMIS by 23.6% in the 2nd quarter. Platinum Investment Management Ltd. now owns 335,156 shares of the medical instruments supplier’s stock valued at $1,437,000 after acquiring an additional 63,900 shares during the period. ARK Investment Management LLC raised its stake in ConforMIS by 208.5% in the 2nd quarter. ARK Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock valued at $825,000 after acquiring an additional 130,009 shares during the period. Goldman Sachs Group Inc. raised its stake in ConforMIS by 1,313.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 148,147 shares of the medical instruments supplier’s stock valued at $773,000 after acquiring an additional 137,667 shares during the period. Finally, UBS Group AG raised its stake in ConforMIS by 53.0% in the 1st quarter. UBS Group AG now owns 269,551 shares of the medical instruments supplier’s stock valued at $1,407,000 after acquiring an additional 93,330 shares during the period. Institutional investors and hedge funds own 33.63% of the company’s stock.
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.
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