Equities analysts predict that ConforMIS Inc (NASDAQ:CFMS) will report $19.51 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for ConforMIS’s earnings, with estimates ranging from $19.23 million to $19.71 million. ConforMIS reported sales of $20.46 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.6%. The company is expected to issue its next earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that ConforMIS will report full-year sales of $19.51 million for the current year, with estimates ranging from $81.04 million to $84.00 million. For the next financial year, analysts forecast that the company will report sales of $92.08 million per share, with estimates ranging from $91.00 million to $94.04 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ConforMIS.
ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings data on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 78.44%. The firm had revenue of $20.80 million for the quarter, compared to the consensus estimate of $20.07 million. During the same period in the previous year, the firm posted ($0.37) earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis.
A number of research analysts recently commented on CFMS shares. Zacks Investment Research downgraded shares of ConforMIS from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. downgraded shares of ConforMIS from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 2nd. BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a research report on Thursday, November 2nd. Oppenheimer set a $4.00 price objective on shares of ConforMIS and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Canaccord Genuity lowered their price objective on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.88.
In other ConforMIS news, CEO Mark A. Augusti sold 16,548 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $2.27, for a total value of $37,563.96. Following the completion of the sale, the chief executive officer now directly owns 285,007 shares of the company’s stock, valued at $646,965.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 43,691 shares of company stock valued at $91,154 over the last three months. Insiders own 9.55% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted 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 buying an additional 45,096 shares during the last quarter. Swiss National Bank lifted 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 buying an additional 19,900 shares during the last quarter. Wells Fargo & Company MN lifted 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 buying an additional 1,091 shares during the last quarter. Alliancebernstein L.P. lifted 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 buying an additional 9,500 shares during the last quarter. Finally, Teachers Advisors LLC lifted 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 buying an additional 9,673 shares during the last quarter. 23.19% of the stock is owned by institutional investors.
ConforMIS (NASDAQ CFMS) opened at $1.45 on Tuesday. ConforMIS has a 1 year low of $1.15 and a 1 year high of $6.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.19 and a quick ratio of 5.38.
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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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