Zacks Investment Research Downgrades ConforMIS (CFMS) to Sell

ConforMIS (NASDAQ:CFMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

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Several other equities analysts also recently issued reports on the stock. Canaccord Genuity raised shares of ConforMIS from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Tuesday, April 10th. ValuEngine downgraded shares of ConforMIS from a “sell” rating to a “strong sell” rating in a research note on Monday, April 2nd. Oppenheimer reaffirmed a “buy” rating on shares of ConforMIS in a research note on Thursday, March 22nd. Cowen began coverage on shares of ConforMIS in a research note on Wednesday, February 21st. They set an “outperform” rating and a $4.00 price target for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $4.00 price target on shares of ConforMIS in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. ConforMIS currently has an average rating of “Hold” and a consensus price target of $4.29.

Shares of ConforMIS stock opened at $1.69 on Wednesday. ConforMIS has a fifty-two week low of $1.15 and a fifty-two week high of $5.98. The company has a current ratio of 5.41, a quick ratio of 4.70 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $102.22, a price-to-earnings ratio of -1.36 and a beta of 1.01.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. The firm had revenue of $20.80 million for the quarter, compared to analyst estimates of $20.07 million. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 85.24%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.37) earnings per share. equities analysts anticipate that ConforMIS will post -0.87 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of 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 acquiring an additional 6,535 shares during the last quarter. State Street Corp raised its stake in ConforMIS by 1.5% during the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock worth $2,550,000 after buying an additional 8,693 shares during the last quarter. Deutsche Bank AG raised its stake in ConforMIS by 43.5% during the fourth quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock worth $286,000 after buying an additional 36,634 shares during the last quarter. Two Sigma Investments LP bought a new position in ConforMIS during the fourth quarter worth $130,000. Finally, Spark Investment Management LLC raised its stake in ConforMIS by 245.3% during the fourth quarter. Spark Investment Management LLC now owns 120,500 shares of the medical instruments supplier’s stock worth $286,000 after buying an additional 85,600 shares during the last quarter. 22.98% of the stock is owned by hedge funds and other institutional investors.

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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.

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