ConforMIS (NASDAQ:CFMS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, March 21st.
According to Zacks, “ConforMIS, Inc. is a medical technology company which develops, manufacture and sells joint replacement implants. The Company’s iFit technology platform consists of iFit Design, iFit Printing and iFit Just-in-Time Delivery. It operates primarily in the United States, Germany and the United Kingdom. The Company serves orthopedic surgeons, hospitals and other medical facilities and patients. ConforMIS, Inc. is based in Bedford, United States. “
CFMS has been the topic of a number of other research reports. JPMorgan Chase cut shares of ConforMIS from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. Cowen started coverage on shares of ConforMIS in a report on Wednesday, February 21st. They issued an “outperform” rating and a $4.00 target price on the stock. Oppenheimer set a $4.00 target price on shares of ConforMIS and gave the stock a “buy” rating in a report on Thursday, February 8th. Canaccord Genuity reissued a “hold” rating on shares of ConforMIS in a report on Monday, March 12th. Finally, BTIG Research reissued a “buy” rating and issued a $4.00 target price on shares of ConforMIS in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. ConforMIS presently has an average rating of “Hold” and an average price target of $4.29.
Shares of CFMS stock traded down $0.05 during trading hours on Wednesday, hitting $1.50. 331,982 shares of the company were exchanged, compared to its average volume of 410,747. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.70 and a current ratio of 5.41. ConforMIS has a one year low of $1.15 and a one year high of $5.98. The stock has a market capitalization of $94.31, a price-to-earnings ratio of -1.21 and a beta of 1.01.
ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 85.24%. The business had revenue of $20.80 million for the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter last year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. research analysts forecast that ConforMIS will post -0.86 EPS for the current year.
Several large investors have recently made changes to their positions in CFMS. Prosight Management LP acquired a new stake in shares of ConforMIS in the fourth quarter valued at approximately $952,000. Renaissance Technologies LLC increased its stake in shares of ConforMIS by 627.0% in the fourth quarter. Renaissance Technologies LLC now owns 346,800 shares of the medical instruments supplier’s stock valued at $825,000 after purchasing an additional 299,100 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of ConforMIS in the third quarter valued at approximately $859,000. Ark Investment Management LLC increased its stake in shares of ConforMIS by 208.5% in the second quarter. Ark Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock valued at $825,000 after purchasing an additional 130,009 shares during the period. Finally, ARK Investment Management LLC increased its stake in shares of ConforMIS by 44.0% in the fourth quarter. ARK Investment Management LLC now owns 390,564 shares of the medical instruments supplier’s stock valued at $930,000 after purchasing an additional 119,355 shares during the period. Institutional investors own 22.98% of the company’s stock.
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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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