ConforMIS’s (CFMS) “Hold” Rating Reiterated at BTIG Research

ConforMIS, Inc. (NASDAQ:CFMS)‘s stock had its “hold” rating reaffirmed by investment analysts at BTIG Research in a report released on Thursday, November 2nd.

Several other analysts have also recently issued reports on CFMS. Oppenheimer Holdings, Inc. set a $6.00 target price on ConforMIS and gave the stock a “buy” rating in a research report on Friday, August 4th. Canaccord Genuity lowered their price objective on ConforMIS from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, August 4th. ValuEngine raised ConforMIS from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Deutsche Bank AG reiterated a “hold” rating and issued a $5.00 price target (down from $6.00) on shares of ConforMIS in a report on Friday, August 4th. Finally, Zacks Investment Research downgraded ConforMIS from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. ConforMIS currently has an average rating of “Hold” and an average target price of $5.85.

ConforMIS (CFMS) traded up $0.04 on Thursday, hitting $3.24. The stock had a trading volume of 357,765 shares, compared to its average volume of 299,023. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.38 and a current ratio of 6.19. ConforMIS has a 52-week low of $3.03 and a 52-week high of $9.47.

ConforMIS (NASDAQ:CFMS) last posted its earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $17.55 million. During the same quarter in the prior year, the company earned ($0.31) earnings per share. ConforMIS’s revenue was down 1.3% on a year-over-year basis. equities analysts anticipate that ConforMIS will post -1.27 EPS for the current year.

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In other ConforMIS news, insider David Cerveny sold 16,392 shares of ConforMIS stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total value of $51,962.64. Following the completion of the sale, the insider now directly owns 151,408 shares of the company’s stock, valued at approximately $479,963.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Daniel Steines sold 15,485 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $3.15, for a total transaction of $48,777.75. Following the sale, the chief technology officer now directly owns 254,652 shares of the company’s stock, valued at $802,153.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,346 shares of company stock worth $166,598. Insiders own 9.55% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. American International Group Inc. raised its stake in shares of ConforMIS by 7.0% in the 1st quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock valued at $115,000 after purchasing an additional 1,448 shares in the last quarter. Stonebridge Capital Management Inc. bought a new position in shares of ConforMIS in the third quarter valued at approximately $130,000. Trent Capital Management Inc. NC bought a new position in shares of ConforMIS in the second quarter valued at approximately $136,000. The Manufacturers Life Insurance Company lifted its stake in ConforMIS by 21.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock valued at $158,000 after purchasing an additional 6,535 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of ConforMIS by 31.1% in the 2nd quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock valued at $172,000 after acquiring an additional 9,500 shares in the last quarter. Hedge funds and other institutional investors own 36.41% of the company’s stock.

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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