ConforMIS, Inc. (CFMS) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.
Several other brokerages have also recently issued reports on CFMS. B. Riley reiterated a buy rating and set a $7.50 price target on shares of ConforMIS in a research report on Tuesday, February 21st. Zacks Investment Research lowered ConforMIS from a buy rating to a hold rating in a research note on Monday, February 20th. Canaccord Genuity set a $8.00 price objective on ConforMIS and gave the stock a hold rating in a research note on Thursday, May 11th. Finally, BTIG Research started coverage on ConforMIS in a research note on Tuesday, June 20th. They set a neutral rating for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $9.88.
Shares of ConforMIS (CFMS) opened at 4.32 on Tuesday. The stock’s market capitalization is $189.43 million. The firm’s 50-day moving average price is $4.65 and its 200-day moving average price is $6.27. ConforMIS has a 52-week low of $3.89 and a 52-week high of $10.93.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by $0.04. ConforMIS had a negative net margin of 74.55% and a negative return on equity of 60.57%. The firm had revenue of $20.50 million for the quarter, compared to analyst estimates of $18.48 million. During the same quarter last year, the business posted ($0.37) earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts forecast that ConforMIS will post ($1.43) earnings per share for the current fiscal year.
In other news, Director Bradley Langdale sold 6,722 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $4.30, for a total value of $28,904.60. Following the completion of the sale, the director now owns 26,533 shares of the company’s stock, valued at $114,091.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $27,700.00. Following the completion of the sale, the insider now directly owns 190,745 shares of the company’s stock, valued at approximately $1,056,727.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,722 shares of company stock valued at $81,605. Corporate insiders own 9.55% of the company’s stock.
Several hedge funds have recently modified their holdings of CFMS. Russell Investments Group Ltd. acquired a new stake in shares of ConforMIS during the fourth quarter valued at approximately $311,000. State Street Corp boosted its stake in shares of ConforMIS by 16.1% in the fourth quarter. State Street Corp now owns 590,119 shares of the medical instruments supplier’s stock valued at $4,782,000 after buying an additional 81,767 shares during the period. Creative Planning acquired a new stake in shares of ConforMIS during the first quarter valued at approximately $236,000. A.R.T. Advisors LLC acquired a new stake in shares of ConforMIS during the fourth quarter valued at approximately $178,000. Finally, Teachers Advisors LLC boosted its stake in shares of ConforMIS by 27.6% in the fourth quarter. Teachers Advisors LLC now owns 73,565 shares of the medical instruments supplier’s stock valued at $596,000 after buying an additional 15,890 shares during the period. 39.38% of the stock is owned by institutional investors and hedge funds.
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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