Investment analysts at BTIG Research initiated coverage on shares of ConforMIS, Inc. (NASDAQ:CFMS) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set a “neutral” rating on the medical instruments supplier’s stock.

Several other brokerages have also weighed in on CFMS. B. Riley reissued a “buy” rating and set a $7.50 price target on shares of ConforMIS in a report on Tuesday, May 16th. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Oppenheimer Holdings, Inc. set a $9.00 price target on ConforMIS and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Canaccord Genuity set a $8.00 price target on ConforMIS and gave the company a “hold” rating in a report on Thursday, May 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.88.

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

ConforMIS (CFMS) opened at 4.04 on Tuesday. The firm has a 50-day moving average of $4.65 and a 200 day moving average of $6.27. The firm’s market capitalization is $177.15 million. ConforMIS has a 52 week low of $3.89 and a 52 week high of $10.93.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by $0.04. ConforMIS had a negative return on equity of 60.57% and a negative net margin of 74.55%. The company had revenue of $20.50 million during the quarter, compared to analyst estimates of $18.48 million. During the same period in the prior year, the business earned ($0.37) earnings per share. ConforMIS’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts predict that ConforMIS will post ($1.43) earnings per share for the current year.

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In other news, insider Daniel Steines sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $5.54, for a total transaction of $27,700.00. Following the transaction, the insider now directly owns 190,745 shares of the company’s stock, valued at $1,056,727.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.55% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CFMS. Marathon Capital Management acquired a new position in shares of ConforMIS during the first quarter worth approximately $1,052,000. Columbus Circle Investors acquired a new position in shares of ConforMIS during the first quarter worth approximately $792,000. Goldman Sachs Group Inc. raised its position in shares of ConforMIS by 1,313.6% in the first quarter. Goldman Sachs Group Inc. now owns 148,147 shares of the medical instruments supplier’s stock worth $773,000 after buying an additional 137,667 shares during the period. Wellington Management Group LLP raised its position in shares of 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 worth $29,463,000 after buying an additional 132,211 shares during the period. Finally, UBS Group AG raised its position in shares of ConforMIS by 53.0% in the first quarter. UBS Group AG now owns 269,551 shares of the medical instruments supplier’s stock worth $1,407,000 after buying an additional 93,330 shares during the period. 38.92% of the stock is currently owned by institutional investors.

About ConforMIS

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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