ConforMIS (CFMS) Downgraded to Hold at Zacks Investment Research

Share on StockTwits

Zacks Investment Research cut shares of ConforMIS (NASDAQ:CFMS) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

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 brokerages have also recently commented on CFMS. Oppenheimer reiterated a buy rating on shares of ConforMIS in a report on Thursday, March 22nd. Canaccord Genuity reiterated a hold rating on shares of ConforMIS in a report on Monday, March 12th. ValuEngine upgraded ConforMIS from a sell rating to a hold rating in a report on Friday, June 1st. Finally, BTIG Research reiterated a buy rating and issued a $3.00 target price on shares of ConforMIS in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $3.58.

Shares of ConforMIS stock opened at $1.19 on Wednesday. The company has a market capitalization of $71.87 million, a PE ratio of -0.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 5.95 and a quick ratio of 5.34. ConforMIS has a one year low of $1.15 and a one year high of $5.73.

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

In related news, insider Daniel Steines sold 277,064 shares of the business’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $1.41, for a total transaction of $390,660.24. Following the completion of the transaction, the insider now owns 232,307 shares in the company, valued at approximately $327,552.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Philipp Lang sold 651,212 shares of the business’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $1.38, for a total value of $898,672.56. Following the transaction, the director now owns 95,055 shares of the company’s stock, valued at approximately $131,175.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,042,234 shares of company stock valued at $1,457,539. 7.59% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CFMS. Spark Investment Management LLC boosted its holdings in ConforMIS by 245.3% during the 4th quarter. Spark Investment Management LLC now owns 120,500 shares of the medical instruments supplier’s stock valued at $286,000 after acquiring an additional 85,600 shares during the period. Renaissance Technologies LLC boosted its holdings in ConforMIS by 627.0% during the 4th quarter. Renaissance Technologies LLC now owns 346,800 shares of the medical instruments supplier’s stock valued at $825,000 after acquiring an additional 299,100 shares during the period. Deutsche Bank AG boosted its holdings in ConforMIS by 43.5% during the 4th quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock valued at $286,000 after acquiring an additional 36,634 shares during the period. Two Sigma Investments LP purchased a new position in ConforMIS during the 4th quarter valued at $130,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in ConforMIS by 93.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 140,943 shares of the medical instruments supplier’s stock valued at $205,000 after acquiring an additional 68,000 shares during the period. Institutional investors own 44.11% of the company’s stock.

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.

Get a free copy of the Zacks research report on ConforMIS (CFMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

Receive News & Ratings for ConforMIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConforMIS and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply