Cowen assumed coverage on shares of ConforMIS (NASDAQ:CFMS) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $4.00 price objective on the medical instruments supplier’s stock.
CFMS has been the subject of several other research reports. Zacks Investment Research lowered ConforMIS from a hold rating to a sell rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. lowered ConforMIS from a neutral rating to an underweight rating in a report on Tuesday, January 2nd. BTIG Research reissued a hold rating on shares of ConforMIS in a report on Thursday, November 2nd. Oppenheimer set a $4.00 price target on ConforMIS and gave the company a buy rating in a report on Thursday, February 8th. Finally, Canaccord Genuity dropped their price objective on ConforMIS from $5.00 to $4.00 and set a hold rating for the company in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. ConforMIS has a consensus rating of Hold and a consensus price target of $4.75.
Shares of ConforMIS (NASDAQ:CFMS) opened at $1.42 on Wednesday. ConforMIS has a fifty-two week low of $1.15 and a fifty-two week high of $5.98. 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 quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. ConforMIS had a negative return on equity of 78.44% and a negative net margin of 68.59%. The business had revenue of $20.80 million during the quarter, compared to analyst estimates of $20.07 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. ConforMIS’s revenue for the quarter was down 4.1% on a year-over-year basis. equities analysts predict that ConforMIS will post -0.86 earnings per share for the current fiscal year.
In other news, CEO Mark A. Augusti sold 16,548 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $2.27, for a total value of $37,563.96. Following the completion of the transaction, the chief executive officer now owns 285,007 shares of the company’s stock, valued at $646,965.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 43,691 shares of company stock valued at $91,154. Corporate insiders own 9.55% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFMS. Bank of New York Mellon Corp boosted its stake in shares of ConforMIS by 35.6% in the second quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock worth $737,000 after acquiring an additional 45,096 shares during the period. Swiss National Bank boosted its stake 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 acquiring an additional 19,900 shares during the period. Wells Fargo & Company MN boosted its stake in shares of ConforMIS by 2.0% in the second quarter. Wells Fargo & Company MN now owns 55,021 shares of the medical instruments supplier’s stock worth $236,000 after acquiring an additional 1,091 shares during the period. Alliancebernstein L.P. boosted its stake 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 acquiring an additional 9,500 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of ConforMIS by 13.1% in the second quarter. Teachers Advisors LLC now owns 83,238 shares of the medical instruments supplier’s stock worth $357,000 after acquiring an additional 9,673 shares during the period. 23.19% of the stock is owned by hedge funds and other institutional investors.
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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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