ConforMIS (CFMS) Rating Reiterated by BTIG Research

ConforMIS (NASDAQ:CFMS)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a report issued on Wednesday. They presently have a $4.00 target price on the medical instruments supplier’s stock. BTIG Research’s target price would suggest a potential upside of 54.44% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. lowered ConforMIS from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.54.

ConforMIS (CFMS) opened at $2.59 on Wednesday. ConforMIS has a 52 week low of $2.21 and a 52 week high of $8.72. The firm has a market capitalization of $117.31 and a price-to-earnings ratio of -1.93. The company has a current ratio of 6.19, a quick ratio of 5.38 and a debt-to-equity ratio of 0.52.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share for the quarter, topping 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 analyst estimates of $17.55 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. sell-side analysts expect that ConforMIS will post -1.27 earnings per share for the current year.

In related news, CTO Daniel Steines sold 15,485 shares of the stock in a transaction on 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 in the company, valued at approximately $802,153.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark A. Augusti sold 16,548 shares of the stock in a transaction on Tuesday, December 19th. The shares were 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 $646,965.89. The disclosure for this sale can be found here. Insiders sold a total of 85,994 shares of company stock worth $244,696 over the last ninety days. Corporate insiders own 9.55% of the company’s stock.

A number of hedge funds and other institutional investors 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 valued at $192,000 after purchasing an additional 8,017 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in 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 valued at $737,000 after purchasing an additional 45,096 shares in the last quarter. Swiss National Bank increased its holdings in ConforMIS by 59.2% in 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 in the last quarter. Wells Fargo & Company MN increased its holdings in ConforMIS by 2.0% in the 2nd quarter. Wells Fargo & Company MN now owns 55,021 shares of the medical instruments supplier’s stock valued at $236,000 after purchasing an additional 1,091 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of ConforMIS by 31.1% during the second 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 35.57% of the company’s stock.

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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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