Conformis (NASDAQ:CFMS) Price Target Lowered to $2.50 at Oppenheimer

Conformis (NASDAQ:CFMS) had its price target cut by research analysts at Oppenheimer from $3.00 to $2.50 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Oppenheimer’s price objective would suggest a potential upside of 64.47% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on CFMS. TheStreet upgraded shares of Conformis from a “d-” rating to a “c” rating in a report on Wednesday, August 18th. Zacks Investment Research upgraded Conformis from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Monday, August 9th.

Shares of CFMS stock opened at $1.52 on Wednesday. The stock’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $1.15. Conformis has a twelve month low of $0.60 and a twelve month high of $1.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.84 and a current ratio of 9.72. The company has a market capitalization of $282.66 million, a price-to-earnings ratio of -30.39 and a beta of 1.33.

Conformis (NASDAQ:CFMS) last announced its quarterly earnings results on Wednesday, August 4th. The medical instruments supplier reported $0.21 EPS for the quarter, beating the consensus estimate of $0.08 by $0.13. Conformis had a return on equity of 22.58% and a net margin of 13.33%. The company had revenue of $56.35 million for the quarter, compared to the consensus estimate of $39.39 million. On average, analysts forecast that Conformis will post -0.07 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fort Pitt Capital Group LLC bought a new position in shares of Conformis during the 2nd quarter worth about $28,000. Victory Capital Management Inc. grew its position in Conformis by 112.5% during the first quarter. Victory Capital Management Inc. now owns 29,067 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 15,390 shares in the last quarter. Morgan Stanley increased its stake in Conformis by 657.6% during the first quarter. Morgan Stanley now owns 29,283 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 25,418 shares during the period. GenTrust LLC acquired a new position in Conformis in the 1st quarter valued at approximately $35,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Conformis in the 2nd quarter worth approximately $35,000. Institutional investors own 42.58% of the company’s stock.

Conformis Company Profile

ConforMIS, Inc is a medical technology company, which engages in the development, manufacture, and sale of joint replacement implants. It operates through the following geographical segments: United States; Germany; and Rest of the World. The firm’s products include iUni, iDuo, iTotal CR, and iTotal.

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