ConforMIS (CFMS) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research cut shares of ConforMIS (NASDAQ:CFMS) from a buy rating to a hold rating in a research report released 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. “

CFMS has been the subject of a number of other reports. Oppenheimer restated a buy rating on shares of ConforMIS in a research note on Tuesday, September 18th. BTIG Research restated a buy rating and issued a $3.00 price target on shares of ConforMIS in a research note on Thursday, August 2nd. Finally, SunTrust Banks restated a buy rating on shares of ConforMIS in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $2.75.

CFMS stock traded down $0.06 during mid-day trading on Wednesday, reaching $0.79. The company had a trading volume of 11,730 shares, compared to its average volume of 197,594. The company has a quick ratio of 4.15, a current ratio of 4.77 and a debt-to-equity ratio of 0.60. The company has a market cap of $55.68 million, a price-to-earnings ratio of -0.63 and a beta of 1.13. ConforMIS has a 52 week low of $0.80 and a 52 week high of $3.83.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The firm had revenue of $28.98 million during the quarter, compared to the consensus estimate of $19.21 million. ConforMIS had a negative return on equity of 94.69% and a negative net margin of 64.66%. On average, equities research analysts anticipate that ConforMIS will post -0.83 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. bought a new position in shares of ConforMIS during the 2nd quarter worth approximately $131,000. Dimensional Fund Advisors LP boosted its stake in shares of ConforMIS by 79.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 91,356 shares of the medical instruments supplier’s stock worth $132,000 after acquiring an additional 40,563 shares during the period. LMR Partners LLP bought a new position in shares of ConforMIS during the 2nd quarter worth approximately $167,000. Allianz Asset Management GmbH bought a new position in shares of ConforMIS during the 1st quarter worth approximately $183,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of 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 worth $205,000 after acquiring an additional 68,000 shares during the period. Hedge funds and other institutional investors own 40.16% 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.

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