Zacks Investment Research lowered shares of ConforMIS (NASDAQ:CFMS) from a hold rating to a sell rating in a research report report published on Wednesday morning.
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. “
Other equities research analysts have also issued research reports about the company. BTIG Research raised ConforMIS from a neutral rating to a buy rating and set a $4.00 price objective for the company in a report on Wednesday, December 20th. JPMorgan Chase & Co. lowered ConforMIS from a neutral rating to an underweight rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $5.54.
ConforMIS (NASDAQ:CFMS) last released its earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.03. ConforMIS had a negative return on equity of 76.88% and a negative net margin of 72.70%. The company had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $17.55 million. During the same period in the previous year, the business posted ($0.31) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. research analysts predict that ConforMIS will post -1.27 earnings per share for the current fiscal year.
In related news, CEO Mark A. Augusti sold 16,548 shares of ConforMIS stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $2.27, for a total value of $37,563.96. Following the completion of the sale, the chief executive officer now owns 285,007 shares of the company’s stock, valued at approximately $646,965.89. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Daniel Steines sold 15,485 shares of ConforMIS stock in a transaction dated Wednesday, November 15th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders sold 83,248 shares of company stock valued at $235,021. 9.55% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CFMS. Rhumbline Advisers increased its holdings in ConforMIS by 21.8% in the 2nd quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock worth $192,000 after acquiring an additional 8,017 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in ConforMIS by 35.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 171,901 shares of the medical instruments supplier’s stock valued at $737,000 after buying an additional 45,096 shares in the last quarter. Swiss National Bank grew its holdings in ConforMIS by 59.2% during the 2nd quarter. Swiss National Bank now owns 53,500 shares of the medical instruments supplier’s stock valued at $230,000 after buying an additional 19,900 shares in the last quarter. Wells Fargo & Company MN grew its holdings in ConforMIS by 2.0% during the 2nd quarter. Wells Fargo & Company MN now owns 55,021 shares of the medical instruments supplier’s stock valued at $236,000 after buying an additional 1,091 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in ConforMIS by 31.1% during the 2nd quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock valued at $172,000 after buying an additional 9,500 shares in the last quarter. 35.56% 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.
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