ConforMIS, Inc. (CFMS) Stake Increased by Alliancebernstein L.P.
Alliancebernstein L.P. grew its holdings in ConforMIS, Inc. (NASDAQ:CFMS) by 31.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the medical instruments supplier’s stock after buying an additional 9,500 shares during the period. Alliancebernstein L.P. owned 0.09% of ConforMIS worth $172,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in ConforMIS by 7.0% during the 1st quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock worth $115,000 after purchasing an additional 1,448 shares during the last quarter. Trent Capital Management Inc. NC acquired a new stake in ConforMIS during the 2nd quarter worth approximately $136,000. Rhumbline Advisers lifted its holdings in ConforMIS by 21.8% during the 2nd quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock worth $192,000 after purchasing an additional 8,017 shares during the last quarter. Swiss National Bank lifted its holdings in ConforMIS by 59.2% during the 2nd quarter. Swiss National Bank now owns 53,500 shares of the medical instruments supplier’s stock worth $230,000 after purchasing an additional 19,900 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in ConforMIS by 1.8% during the 1st quarter. Wells Fargo & Company MN now owns 53,930 shares of the medical instruments supplier’s stock worth $282,000 after purchasing an additional 935 shares during the last quarter. 32.83% of the stock is owned by institutional investors.
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CFMS has been the topic of a number of recent research reports. Oppenheimer Holdings, Inc. set a $6.00 price objective on ConforMIS and gave the stock a “buy” rating in a research note on Friday, August 4th. Canaccord Genuity lowered their price objective on ConforMIS from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, August 4th. Deutsche Bank AG restated 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. BTIG Research restated a “hold” rating on shares of ConforMIS in a research note on Thursday, November 2nd. Finally, Zacks Investment Research lowered ConforMIS from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One equities 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 company’s stock. ConforMIS has a consensus rating of “Hold” and a consensus price target of $5.85.
Shares of ConforMIS, Inc. (CFMS) opened at $3.26 on Wednesday. ConforMIS, Inc. has a 52-week low of $3.22 and a 52-week 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 issued its quarterly earnings data on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. The business had revenue of $18.40 million for the quarter, compared to analyst estimates of $17.55 million. ConforMIS had a negative return on equity of 76.88% and a negative net margin of 72.70%. ConforMIS’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) EPS. research analysts predict that ConforMIS, Inc. will post -1.28 earnings per share for the current year.
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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