PDT Partners LLC bought a new position in ConforMIS, Inc. (NASDAQ:CFMS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 80,800 shares of the medical instruments supplier’s stock, valued at approximately $347,000. PDT Partners LLC owned approximately 0.18% of ConforMIS at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. American International Group Inc. grew its position 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 worth $115,000 after acquiring an additional 1,448 shares in the last quarter. Trent Capital Management Inc. NC acquired a new position in ConforMIS during the 2nd quarter valued at approximately $136,000. Alliancebernstein L.P. boosted its position 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 purchasing an additional 9,500 shares during the period. Rhumbline Advisers boosted its position in ConforMIS by 21.8% during the 2nd quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after purchasing an additional 8,017 shares during the period. Finally, Swiss National Bank boosted its position 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 purchasing an additional 19,900 shares during the period. Institutional investors own 33.60% of the company’s stock.
A number of research analysts recently issued reports on CFMS shares. Zacks Investment Research lowered ConforMIS from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BTIG Research reaffirmed a “hold” rating on shares of ConforMIS in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. set a $6.00 target price on ConforMIS and gave the company a “buy” rating in a research note on Friday, August 4th. Deutsche Bank AG reaffirmed a “hold” rating and set a $5.00 target price (down previously from $6.00) on shares of ConforMIS in a research note on Friday, August 4th. Finally, ValuEngine raised ConforMIS from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $6.71.
ConforMIS, Inc. (CFMS) opened at 3.46 on Wednesday. The firm’s market cap is $155.13 million. The firm has a 50-day moving average price of $3.71 and a 200 day moving average price of $3.71. ConforMIS, Inc. has a 12-month low of $3.22 and a 12-month high of $10.16.
ConforMIS (NASDAQ:CFMS) last posted its earnings results on Thursday, August 3rd. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.08. ConforMIS had a negative net margin of 72.87% and a negative return on equity of 66.61%. The company had revenue of $18.50 million for the quarter, compared to analyst estimates of $19.34 million. During the same quarter in the prior year, the business posted ($0.34) EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts forecast that ConforMIS, Inc. will post ($1.30) EPS for the current year.
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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