ConforMIS (CFMS) Lowered to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of ConforMIS (NASDAQ:CFMS) from a neutral rating to an underweight rating in a report issued on Tuesday.

Several other equities analysts also recently commented on CFMS. Zacks Investment Research downgraded shares of ConforMIS from a buy rating to a hold rating in a report on Tuesday, October 31st. BTIG Research reiterated a hold rating on shares of ConforMIS in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $5.54.

Shares of ConforMIS (CFMS) traded down $0.03 during trading hours on Tuesday, reaching $2.35. 472,600 shares of the company traded hands, compared to its average volume of 475,950. The company has a market cap of $107.34 and a P/E ratio of -1.75. ConforMIS has a one year low of $2.21 and a one year high of $8.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.19 and a quick ratio of 5.38.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.03. The company had revenue of $18.40 million for the quarter, compared to the consensus estimate of $17.55 million. ConforMIS had a negative net margin of 72.70% and a negative return on equity of 76.88%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.31) EPS. analysts predict that ConforMIS will post -1.27 earnings per share for the current fiscal year.

In other ConforMIS news, CTO Daniel Steines sold 15,485 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.15, for a total value of $48,777.75. Following the completion of the sale, the chief technology officer now directly owns 254,652 shares of the company’s stock, valued at approximately $802,153.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Paul S. Weiner sold 17,723 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total transaction of $56,181.91. Following the completion of the sale, the chief financial officer now directly owns 162,009 shares of the company’s stock, valued at $513,568.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,994 shares of company stock valued at $244,696. 9.55% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC boosted its position in ConforMIS by 331.2% in the 3rd quarter. Citadel Advisors LLC now owns 113,972 shares of the medical instruments supplier’s stock valued at $401,000 after buying an additional 87,540 shares during the period. Ark Investment Management LLC lifted its position in shares of ConforMIS by 208.5% in the 2nd quarter. Ark Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock worth $825,000 after purchasing an additional 130,009 shares during the period. Platinum Investment Management Ltd. lifted its position in shares of ConforMIS by 23.6% in the 2nd quarter. Platinum Investment Management Ltd. now owns 335,156 shares of the medical instruments supplier’s stock worth $1,437,000 after purchasing an additional 63,900 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ConforMIS by 35.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock worth $737,000 after purchasing an additional 45,096 shares during the period. Finally, Northern Trust Corp lifted its position in shares of ConforMIS by 15.2% in the 2nd quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock worth $1,950,000 after purchasing an additional 60,034 shares during the period. 35.57% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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