Brokerages Expect ConforMIS, Inc. (NASDAQ:CFMS) Will Post Earnings of -$0.36 Per Share

Brokerages expect that ConforMIS, Inc. (NASDAQ:CFMS) will announce ($0.36) earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for ConforMIS’s earnings, with estimates ranging from ($0.39) to ($0.33). ConforMIS reported earnings of ($0.34) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.9%. The firm is expected to announce its next earnings results on Monday, August 14th.

According to Zacks, analysts expect that ConforMIS will report full-year earnings of ($1.45) per share for the current financial year, with EPS estimates ranging from ($1.54) to ($1.34). For the next fiscal year, analysts forecast that the business will report earnings of ($1.21) per share, with EPS estimates ranging from ($1.36) to ($1.14). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow ConforMIS.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by $0.04. ConforMIS had a negative return on equity of 60.57% and a negative net margin of 74.55%. The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $18.48 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year.

A number of research firms have commented on CFMS. Canaccord Genuity set a $8.00 price target on shares of ConforMIS and gave the stock a “hold” rating in a research report on Thursday, May 11th. BTIG Research assumed coverage on shares of ConforMIS in a research report on Tuesday, June 20th. They set a “neutral” rating on the stock. B. Riley reaffirmed a “buy” rating and issued a $7.50 price objective on shares of ConforMIS in a research note on Tuesday, May 16th. Zacks Investment Research cut shares of ConforMIS from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Oppenheimer Holdings, Inc. set a $9.00 price objective on shares of ConforMIS and gave the stock a “buy” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.88.

ILLEGAL ACTIVITY WARNING: “Brokerages Expect ConforMIS, Inc. (NASDAQ:CFMS) Will Post Earnings of -$0.36 Per Share” was originally reported by BBNS and is the sole property of of BBNS. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://baseballnewssource.com/markets/brokerages-expect-conformis-inc-nasdaqcfms-will-post-earnings-of-0-36-per-share-updated/1180258.html.

In other news, insider Daniel Steines sold 5,000 shares of ConforMIS stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $5.54, for a total value of $27,700.00. Following the transaction, the insider now owns 190,745 shares of the company’s stock, valued at approximately $1,056,727.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley Langdale sold 6,722 shares of ConforMIS stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $4.30, for a total transaction of $28,904.60. Following the completion of the transaction, the director now directly owns 26,533 shares in the company, valued at approximately $114,091.90. The disclosure for this sale can be found here. Insiders own 9.55% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of ConforMIS by 1,313.6% in the first quarter. Goldman Sachs Group Inc. now owns 148,147 shares of the medical instruments supplier’s stock valued at $773,000 after buying an additional 137,667 shares in the last quarter. Platinum Investment Management Ltd. boosted its position in shares of ConforMIS by 49.0% in the first quarter. Platinum Investment Management Ltd. now owns 271,256 shares of the medical instruments supplier’s stock valued at $1,415,000 after buying an additional 89,200 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of ConforMIS by 99.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 111,500 shares of the medical instruments supplier’s stock valued at $583,000 after buying an additional 55,500 shares in the last quarter. UBS Group AG boosted its position in shares of ConforMIS by 53.0% in the first quarter. UBS Group AG now owns 269,551 shares of the medical instruments supplier’s stock valued at $1,407,000 after buying an additional 93,330 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ConforMIS by 4.4% in the first quarter. Geode Capital Management LLC now owns 329,058 shares of the medical instruments supplier’s stock valued at $1,717,000 after buying an additional 13,731 shares in the last quarter. 39.38% of the stock is currently owned by institutional investors.

Shares of ConforMIS (NASDAQ CFMS) opened at 4.16 on Wednesday. The stock has a 50 day moving average of $4.37 and a 200 day moving average of $6.07. The firm’s market capitalization is $182.42 million. ConforMIS has a 52-week low of $3.79 and a 52-week high of $10.93.

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.

Get a free copy of the Zacks research report on ConforMIS (CFMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ConforMIS (NASDAQ:CFMS)

Receive News & Ratings for ConforMIS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConforMIS Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Chris Sale Reaches 200 Strikeouts in Record Time
Chris Sale Reaches 200 Strikeouts in Record Time
Veteran Pitcher Bartolo Colon Considering Retirement
Veteran Pitcher Bartolo Colon Considering Retirement
Todd Frazier Traded to Yankees for Blake Rutherford and Others
Todd Frazier Traded to Yankees for Blake Rutherford and Others
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Tigers Would Include Cash in Verlander Deal and Other MLB Trade Rumors
Todd Frazier Trade to Boston Appears to Be Decided
Todd Frazier Trade to Boston Appears to Be Decided
Chicago White Sox Continue Rebuild Without Jose Quintana
Chicago White Sox Continue Rebuild Without Jose Quintana


Leave a Reply

 
© 2006-2017 BBNS.