ConforMIS, Inc. (CFMS) Insider David Cerveny Sells 16,392 Shares
ConforMIS, Inc. (NASDAQ:CFMS) insider David Cerveny sold 16,392 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total value of $51,962.64. Following the completion of the transaction, the insider now owns 151,408 shares in the company, valued at approximately $479,963.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
ConforMIS, Inc. (CFMS) traded up $0.06 during trading hours on Friday, hitting $3.27. The company had a trading volume of 387,530 shares, compared to its average volume of 299,113. ConforMIS, Inc. has a 12-month low of $3.03 and a 12-month high of $9.59. The company has a quick ratio of 5.38, a current ratio of 6.19 and a debt-to-equity ratio of 0.52.
ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.03. ConforMIS had a negative return on equity of 76.88% and a negative net margin of 72.70%. The firm had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $17.55 million. During the same quarter last year, the firm earned ($0.31) earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. equities research analysts anticipate that ConforMIS, Inc. will post -1.28 earnings per share for the current year.
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Large investors have recently bought and sold shares of the stock. American International Group Inc. increased its holdings in shares of ConforMIS by 7.0% in the first quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock valued at $115,000 after purchasing an additional 1,448 shares during the last quarter. Stonebridge Capital Management Inc. acquired a new stake in shares of ConforMIS in the third quarter valued at approximately $130,000. Trent Capital Management Inc. NC acquired a new stake in shares of ConforMIS in the second quarter valued at approximately $136,000. The Manufacturers Life Insurance Company increased its holdings in shares of ConforMIS by 21.4% in the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock valued at $158,000 after purchasing an additional 6,535 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of ConforMIS by 31.1% in the second quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock valued at $172,000 after purchasing an additional 9,500 shares during the last quarter. 32.83% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on CFMS shares. Zacks Investment Research downgraded ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Deutsche Bank AG restated a “hold” rating and issued a $5.00 target price (down previously from $6.00) on shares of ConforMIS in a research report on Friday, August 4th. ValuEngine upgraded ConforMIS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Canaccord Genuity decreased their target price on ConforMIS from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, August 4th. Finally, BTIG Research restated a “hold” rating on shares of ConforMIS in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.85.
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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