ConforMIS (CFMS) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

ConforMIS (NASDAQ:CFMS) announced its quarterly earnings data on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03, reports. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 78.44%. The company had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The firm’s revenue was down 4.1% on a year-over-year basis.

Shares of ConforMIS (CFMS) traded down $0.05 during mid-day trading on Thursday, reaching $1.41. 380,600 shares of the company traded hands, compared to its average volume of 848,831. 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 has a one year low of $1.15 and a one year high of $6.25.

In other news, CEO Mark A. Augusti sold 16,548 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $2.27, for a total transaction of $37,563.96. Following 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 accessible through this hyperlink. In the last ninety days, insiders have sold 43,691 shares of company stock worth $91,154. Insiders own 9.55% of the company’s stock.

A hedge fund recently raised its stake in ConforMIS stock. The Manufacturers Life Insurance Company increased its holdings in ConforMIS Inc (NASDAQ:CFMS) by 21.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,121 shares of the medical instruments supplier’s stock after buying an additional 6,535 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of ConforMIS worth $158,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 26.99% of the company’s stock.

CFMS has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. BTIG Research restated a “hold” rating on shares of ConforMIS in a report on Thursday, November 2nd. JPMorgan Chase & Co. lowered shares of ConforMIS from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. Oppenheimer set a $4.00 price objective on shares of ConforMIS and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Canaccord Genuity decreased their price target on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.88.

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About ConforMIS

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.

Earnings History for ConforMIS (NASDAQ:CFMS)

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