Sio Capital Management LLC cut its stake in ConforMIS Inc (NASDAQ:CFMS) by 25.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,644,514 shares of the medical instruments supplier’s stock after selling 556,167 shares during the quarter. Sio Capital Management LLC owned approximately 2.60% of ConforMIS worth $2,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Archon Capital Management LLC bought a new position in shares of ConforMIS in the first quarter valued at about $4,408,000. Renaissance Technologies LLC raised its position in shares of ConforMIS by 104.6% in the second quarter. Renaissance Technologies LLC now owns 3,006,900 shares of the medical instruments supplier’s stock valued at $3,759,000 after purchasing an additional 1,537,565 shares during the period. BlackRock Inc. raised its position in shares of ConforMIS by 2.6% in the first quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock valued at $3,478,000 after purchasing an additional 61,539 shares during the period. ARK Investment Management LLC raised its position in shares of ConforMIS by 64.7% in the second quarter. ARK Investment Management LLC now owns 1,158,321 shares of the medical instruments supplier’s stock valued at $1,448,000 after purchasing an additional 455,160 shares during the period. Finally, Platinum Investment Management Ltd. raised its position in shares of ConforMIS by 78.0% in the first quarter. Platinum Investment Management Ltd. now owns 596,656 shares of the medical instruments supplier’s stock valued at $865,000 after purchasing an additional 261,500 shares during the period. 40.13% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on CFMS shares. ValuEngine upgraded shares of ConforMIS from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Zacks Investment Research upgraded shares of ConforMIS from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Wednesday, June 20th. SunTrust Banks restated a “buy” rating on shares of ConforMIS in a research note on Monday, July 16th. BTIG Research restated a “buy” rating and issued a $3.00 price target on shares of ConforMIS in a research note on Thursday, August 2nd. Finally, Oppenheimer set a $4.00 price target on shares of ConforMIS and gave the company a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. ConforMIS has a consensus rating of “Buy” and a consensus price target of $3.25.

CFMS stock opened at $1.15 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 4.15 and a current ratio of 4.77. ConforMIS Inc has a 52 week low of $0.88 and a 52 week high of $4.17. The stock has a market capitalization of $72.02 million, a P/E ratio of -0.93 and a beta of 1.12.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings results on Friday, August 3rd. The medical instruments supplier reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). The business had revenue of $19.10 million during the quarter, compared to analyst estimates of $19.52 million. ConforMIS had a negative net margin of 64.66% and a negative return on equity of 94.69%. analysts predict that ConforMIS Inc will post -0.83 EPS for the current year.

ConforMIS Profile

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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Institutional Ownership by Quarter for ConforMIS (NASDAQ:CFMS)

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