Wall Street analysts expect ConforMIS (NASDAQ:CFMS) to post earnings per share (EPS) of ($0.21) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for ConforMIS’s earnings, with the lowest EPS estimate coming in at ($0.22) and the highest estimate coming in at ($0.18). ConforMIS posted earnings per share of ($0.28) during the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The company is expected to issue its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that ConforMIS will report full year earnings of ($0.83) per share for the current financial year, with EPS estimates ranging from ($0.92) to ($0.75). For the next fiscal year, analysts forecast that the company will post earnings of ($0.65) per share, with EPS estimates ranging from ($0.72) to ($0.57). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow ConforMIS.
ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings data on Wednesday, May 2nd. The medical instruments supplier reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03. The company had revenue of $19.66 million for the quarter, compared to analyst estimates of $19.51 million. ConforMIS had a negative return on equity of 83.49% and a negative net margin of 62.63%.
CFMS has been the topic of a number of recent analyst reports. Zacks Investment Research lowered ConforMIS from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Cowen initiated coverage on ConforMIS in a research note on Wednesday, February 21st. They issued an “outperform” rating and a $4.00 price objective on the stock. Oppenheimer set a $4.00 price objective on ConforMIS and gave the stock a “buy” rating in a research note on Thursday, February 8th. Canaccord Genuity raised ConforMIS from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Tuesday, April 10th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $3.00 price objective on shares of ConforMIS in a research note on Thursday, May 3rd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $3.58.
In other ConforMIS news, Director Bradley Langdale sold 75,764 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $1.52, for a total value of $115,161.28. Following the transaction, the director now directly owns 95,055 shares of the company’s stock, valued at $144,483.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Steines sold 277,064 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $1.41, for a total value of $390,660.24. Following the completion of the transaction, the insider now directly owns 232,307 shares in the company, valued at $327,552.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,042,234 shares of company stock worth $1,457,539. Insiders own 7.59% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CFMS. Spark Investment Management LLC lifted its stake in ConforMIS by 245.3% in the fourth quarter. Spark Investment Management LLC now owns 120,500 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 85,600 shares during the period. ARK Investment Management LLC lifted its stake in 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 buying an additional 119,355 shares during the period. Prosight Management LP acquired a new position in ConforMIS in the fourth quarter valued at approximately $952,000. Renaissance Technologies LLC lifted its stake in 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 buying an additional 299,100 shares during the period. Finally, Deutsche Bank AG lifted its stake in ConforMIS by 43.5% in the fourth quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 36,634 shares during the period. 44.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ConforMIS stock remained flat at $$1.33 during midday trading on Monday. The company had a trading volume of 812,100 shares, compared to its average volume of 595,555. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.34 and a current ratio of 5.95. The firm has a market capitalization of $81.01 million, a price-to-earnings ratio of -1.07 and a beta of 1.02. ConforMIS has a one year low of $1.15 and a one year high of $5.73.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ConforMIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConforMIS and related companies with MarketBeat.com's FREE daily email newsletter.