New York State Common Retirement Fund Sells 1 Shares of ConforMIS, Inc. (CFMS)
New York State Common Retirement Fund decreased its position in shares of ConforMIS, Inc. (NASDAQ:CFMS) by 0.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,500 shares of the medical instruments supplier’s stock after selling 1 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of ConforMIS worth $157,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. American International Group Inc. increased its position 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 worth $115,000 after purchasing an additional 1,448 shares during the period. Trent Capital Management Inc. NC bought a new position in shares of ConforMIS in the second quarter worth $136,000. Alliancebernstein L.P. increased its position 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 worth $172,000 after purchasing an additional 9,500 shares during the period. Rhumbline Advisers increased its position in shares of ConforMIS by 21.8% in the second 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 period. Finally, Swiss National Bank increased its position in shares of ConforMIS by 59.2% in the second 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 period. Hedge funds and other institutional investors own 36.41% of the company’s stock.
In other news, insider David Cerveny sold 16,392 shares of ConforMIS stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $3.17, for a total transaction of $51,962.64. Following the sale, the insider now directly owns 151,408 shares of the company’s stock, valued at $479,963.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Daniel Steines sold 15,485 shares of ConforMIS stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.15, for a total value of $48,777.75. Following the sale, the chief technology officer now directly owns 254,652 shares in the company, valued at $802,153.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,346 shares of company stock worth $166,598. Company insiders own 9.55% of the company’s stock.
A number of brokerages recently commented on CFMS. BTIG Research restated a “hold” rating on shares of ConforMIS in a research report on Thursday, November 2nd. Zacks Investment Research cut ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. 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, Oppenheimer Holdings, Inc. set a $6.00 target price on ConforMIS and gave the company a “buy” rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $5.85.
ConforMIS, Inc. (NASDAQ:CFMS) opened at $3.26 on Monday. ConforMIS, Inc. has a 12-month low of $3.03 and a 12-month high of $9.47. 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 released its earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $17.55 million. During the same quarter in the previous year, the business posted ($0.31) earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. sell-side analysts anticipate that ConforMIS, Inc. will post -1.27 EPS for the current year.
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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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