ConforMIS Inc (NASDAQ:CFMS)’s share price was up 6.4% on Tuesday . The stock traded as high as $1.88 and last traded at $1.84, approximately 836,080 shares were traded during trading. A decline of 40% from the average daily volume of 1,401,355 shares. The stock had previously closed at $1.73.

Several analysts have weighed in on CFMS shares. BTIG Research cut ConforMIS from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. ValuEngine cut ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Oppenheimer set a $4.00 price objective on ConforMIS and gave the company a “buy” rating in a research report on Thursday, May 2nd. BidaskClub cut ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, Zacks Investment Research cut ConforMIS from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. 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 has an average rating of “Hold” and a consensus target price of $3.10.

The stock’s 50-day moving average is $2.99. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.48 and a quick ratio of 2.64. The stock has a market capitalization of $118.47 million, a price-to-earnings ratio of -2.49 and a beta of 2.28.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. ConforMIS had a negative return on equity of 92.18% and a negative net margin of 34.68%. The business had revenue of $19.59 million for the quarter, compared to analysts’ expectations of $19.36 million. As a group, equities analysts forecast that ConforMIS Inc will post -0.41 earnings per share for the current year.

In other news, major shareholder Archon Capital Management Llc sold 279,293 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $3.77, for a total value of $1,052,934.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark A. Augusti sold 23,860 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $4.15, for a total value of $99,019.00. Following the completion of the sale, the chief executive officer now directly owns 1,093,031 shares in the company, valued at $4,536,078.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,263,408 shares of company stock worth $4,186,481. Insiders own 3.38% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of ConforMIS by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 5,326,383 shares of the medical instruments supplier’s stock worth $23,223,000 after purchasing an additional 1,065,255 shares in the last quarter. BlackRock Inc. boosted its position in shares of ConforMIS by 639.2% in the 2nd quarter. BlackRock Inc. now owns 4,206,152 shares of the medical instruments supplier’s stock worth $18,339,000 after purchasing an additional 3,637,102 shares in the last quarter. Spark Investment Management LLC boosted its position in shares of ConforMIS by 172.2% in the 1st quarter. Spark Investment Management LLC now owns 500,000 shares of the medical instruments supplier’s stock worth $1,440,000 after purchasing an additional 316,300 shares in the last quarter. Altrinsic Global Advisors LLC raised its holdings in ConforMIS by 11.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 478,942 shares of the medical instruments supplier’s stock worth $1,379,000 after acquiring an additional 50,000 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new position in ConforMIS in the 2nd quarter worth approximately $1,910,000. 34.25% of the stock is currently owned by hedge funds and other institutional investors.

About ConforMIS (NASDAQ:CFMS)

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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