ConforMIS (CFMS) Upgraded at Canaccord Genuity

ConforMIS (NASDAQ:CFMS) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, April 10th, Marketbeat reports. The brokerage presently has a $4.00 target price on the medical instruments supplier’s stock. Canaccord Genuity’s target price points to a potential upside of 159.74% from the company’s current price.

Several other equities analysts also recently weighed in on the company. BTIG Research reiterated a “buy” rating and set a $4.00 target price on shares of ConforMIS in a research report on Wednesday, January 10th. Zacks Investment Research downgraded ConforMIS from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. JPMorgan Chase downgraded ConforMIS from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 2nd. Oppenheimer reiterated a “buy” rating on shares of ConforMIS in a research report on Thursday, March 22nd. Finally, Cowen started coverage on ConforMIS in a research report on Wednesday, February 21st. They issued an “outperform” rating and a $4.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. ConforMIS has a consensus rating of “Hold” and an average target price of $4.29.

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Shares of CFMS stock traded down $0.01 on Tuesday, reaching $1.54. The stock had a trading volume of 185,166 shares, compared to its average volume of 606,172. The company has a market cap of $96.13, a P/E ratio of -1.24 and a beta of 1.01. ConforMIS has a 1 year low of $1.15 and a 1 year high of $5.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 5.41 and a quick ratio of 4.70.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.03. The firm had revenue of $20.80 million for the quarter, compared to the consensus estimate of $20.07 million. ConforMIS had a negative return on equity of 85.24% and a negative net margin of 68.59%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business posted ($0.37) EPS. analysts expect that ConforMIS will post -0.86 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC increased its holdings in shares of ConforMIS by 331.2% in the third quarter. Citadel Advisors LLC now owns 113,972 shares of the medical instruments supplier’s stock worth $401,000 after purchasing an additional 87,540 shares during the last quarter. Prosight Management LP bought a new stake in shares of ConforMIS in the fourth quarter worth about $952,000. ARK Investment Management LLC increased its holdings in shares of ConforMIS by 44.0% in the fourth quarter. ARK Investment Management LLC now owns 390,564 shares of the medical instruments supplier’s stock worth $930,000 after purchasing an additional 119,355 shares during the last quarter. Spark Investment Management LLC increased its holdings in shares of ConforMIS by 245.3% in the fourth quarter. Spark Investment Management LLC now owns 120,500 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 85,600 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of ConforMIS in the fourth quarter worth about $130,000. 23.13% of the stock is currently 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.

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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