Zacks Investment Research Upgrades ConforMIS (CFMS) to “Buy”

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Zacks Investment Research upgraded shares of ConforMIS (NASDAQ:CFMS) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $1.50 price target on the medical instruments supplier’s stock.

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. “

A number of other analysts also recently issued reports on CFMS. ValuEngine raised shares of ConforMIS from a strong sell rating to a sell rating in a report on Wednesday, May 2nd. BTIG Research reaffirmed a buy rating and set a $3.00 price objective on shares of ConforMIS in a report on Thursday, May 3rd. Oppenheimer set a $4.00 price objective on shares of ConforMIS and gave the stock a buy rating in a report on Thursday, May 3rd. Canaccord Genuity reissued a hold rating on shares of ConforMIS in a research note on Monday, March 12th. Finally, Cowen began coverage on shares of ConforMIS in a research note on Wednesday, February 21st. They issued an outperform rating and a $4.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. ConforMIS has an average rating of Buy and an average price target of $3.58.

ConforMIS opened at $1.26 on Wednesday, according to Marketbeat Ratings. ConforMIS has a 52-week low of $1.15 and a 52-week high of $5.73. The company has a quick ratio of 5.34, a current ratio of 5.95 and a debt-to-equity ratio of 0.49. The firm has a market cap of $77.96 million, a PE ratio of -1.02 and a beta of 1.08.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings data on Wednesday, May 2nd. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. ConforMIS had a negative net margin of 62.63% and a negative return on equity of 83.49%. The company had revenue of $19.66 million during the quarter, compared to the consensus estimate of $19.51 million. equities analysts expect that ConforMIS will post -0.83 EPS for the current year.

In other ConforMIS news, Director Bradley Langdale sold 75,764 shares of the business’s stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $1.52, for a total value of $115,161.28. Following the completion of the sale, the director now directly owns 95,055 shares of the company’s stock, valued at $144,483.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philipp Lang sold 651,212 shares of the business’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $1.38, for a total transaction of $898,672.56. Following the completion of the sale, the director now directly owns 95,055 shares of the company’s stock, valued at $131,175.90. The disclosure for this sale can be found here. Insiders sold 1,042,234 shares of company stock valued at $1,457,539 over the last three months. 7.59% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Deutsche Bank AG lifted its stake in ConforMIS by 43.5% in the fourth quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 36,634 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ConforMIS by 79.9% during the first quarter. Dimensional Fund Advisors LP now owns 91,356 shares of the medical instruments supplier’s stock valued at $132,000 after acquiring an additional 40,563 shares during the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of ConforMIS by 17.9% during the first quarter. Altrinsic Global Advisors LLC now owns 328,942 shares of the medical instruments supplier’s stock valued at $477,000 after acquiring an additional 50,000 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of ConforMIS during the fourth quarter valued at about $130,000. Finally, BlackRock Inc. raised its stake in shares of ConforMIS by 2.6% during the first quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock valued at $3,478,000 after acquiring an additional 61,539 shares during the last quarter. 44.11% of the stock is owned by institutional investors and hedge funds.

About ConforMIS

ConforMIS, Inc, a medical technology company, develops, manufactures, and sells joint replacement implants. The company offers customized knee replacement products, including iTotal CR, a cruciate-retaining product; iTotal PS, a posterior cruciate ligament substituting product; iDuo, a customized bicompartmental knee replacement system; and iUni, a customized unicompartmental knee replacement product to treat the medial or lateral compartment of the knee.

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Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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