ConforMIS (CFMS) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of ConforMIS (NASDAQ:CFMS) from a sell rating to a hold rating in a research report sent to investors on Monday.

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. “

Other research analysts have also recently issued reports about the company. Oppenheimer set a $4.00 target price on ConforMIS and gave the stock a buy rating in a research report on Thursday, February 8th. BTIG Research reaffirmed a buy rating and issued a $4.00 target price on shares of ConforMIS in a research report on Wednesday, January 10th. Canaccord Genuity reduced their target price on ConforMIS from $5.00 to $4.00 and set a hold rating for the company in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut ConforMIS from a neutral rating to an underweight rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. ConforMIS presently has a consensus rating of Hold and a consensus target price of $4.88.

ConforMIS (CFMS) opened at $1.41 on Monday. ConforMIS has a 12-month low of $1.15 and a 12-month high of $8.61. The company has a quick ratio of 5.38, a current ratio of 6.19 and a debt-to-equity ratio of 0.52.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. The firm had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $20.07 million. ConforMIS had a negative return on equity of 78.44% and a negative net margin of 68.59%. ConforMIS’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned ($0.37) earnings per share. research analysts predict that ConforMIS will post -0.86 EPS for the current fiscal year.

In other ConforMIS news, CEO Mark A. Augusti sold 16,548 shares of ConforMIS stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $2.27, for a total transaction of $37,563.96. Following the completion of the transaction, the chief executive officer now directly owns 285,007 shares of the company’s stock, valued at $646,965.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 43,691 shares of company stock valued at $91,154. Company insiders own 9.55% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Stonebridge Capital Management Inc. bought a new position in shares of ConforMIS during the third quarter valued at $130,000. Two Sigma Investments LP bought a new position in shares of ConforMIS during the fourth quarter valued at $130,000. The Manufacturers Life Insurance Company lifted its holdings in shares of ConforMIS by 21.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock valued at $158,000 after acquiring an additional 6,535 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of ConforMIS by 31.1% during the second quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock valued at $172,000 after acquiring an additional 9,500 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of ConforMIS by 21.8% during the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after acquiring an additional 8,017 shares during the period. 26.99% 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.

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