ConforMIS (CFMS) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of ConforMIS (NASDAQ:CFMS) from a neutral rating to an underweight rating in a report published on Tuesday morning, MarketBeat.com reports.

Other research analysts have also recently issued research reports about the company. BTIG Research upgraded ConforMIS from a neutral rating to a buy rating and set a $4.00 price target for the company in a research note on Wednesday, December 20th. Zacks Investment Research cut ConforMIS from a buy rating to a hold rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $5.54.

ConforMIS (NASDAQ:CFMS) opened at $2.48 on Tuesday. ConforMIS has a one year low of $2.21 and a one year high of $8.72. The company has a quick ratio of 5.38, a current ratio of 6.19 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $109.83 and a price-to-earnings ratio of -1.85.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.03. ConforMIS had a negative return on equity of 76.88% and a negative net margin of 72.70%. The firm had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $17.55 million. During the same quarter in the previous year, the business earned ($0.31) earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. research analysts expect that ConforMIS will post -1.27 EPS for the current fiscal year.

In related news, CTO Daniel Steines sold 15,485 shares of ConforMIS stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.15, for a total value of $48,777.75. Following the completion of the sale, the chief technology officer now owns 254,652 shares of the company’s stock, valued at $802,153.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul S. Weiner sold 17,723 shares of ConforMIS stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.17, for a total value of $56,181.91. Following the completion of the sale, the chief financial officer now directly owns 162,009 shares of the company’s stock, valued at approximately $513,568.53. The disclosure for this sale can be found here. Insiders sold 85,994 shares of company stock valued at $244,696 in the last ninety days. 9.55% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of ConforMIS by 1.5% in the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock worth $2,550,000 after acquiring an additional 8,693 shares during the period. Northern Trust Corp grew its holdings in shares of ConforMIS by 15.2% in the second quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock worth $1,950,000 after acquiring an additional 60,034 shares during the period. Platinum Investment Management Ltd. grew its holdings in shares of ConforMIS by 23.6% in the second quarter. Platinum Investment Management Ltd. now owns 335,156 shares of the medical instruments supplier’s stock worth $1,437,000 after acquiring an additional 63,900 shares during the period. Granite Investment Partners LLC bought a new stake in shares of ConforMIS in the third quarter worth $859,000. Finally, Ark Investment Management LLC grew its holdings in shares of ConforMIS by 208.5% in the second quarter. Ark Investment Management LLC now owns 192,378 shares of the medical instruments supplier’s stock worth $825,000 after acquiring an additional 130,009 shares during the period. 35.57% of the stock is owned by 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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