ConforMIS Inc (CFMS) Given Consensus Rating of “Buy” by Brokerages

ConforMIS Inc (NASDAQ:CFMS) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.75.

Several research firms have recently weighed in on CFMS. Zacks Investment Research raised shares of ConforMIS from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Wednesday, July 18th. ValuEngine raised shares of ConforMIS from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Oppenheimer set a $4.00 target price on shares of ConforMIS and gave the stock a “buy” rating in a report on Thursday, August 2nd. SunTrust Banks reaffirmed a “buy” rating on shares of ConforMIS in a report on Monday, July 16th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $3.00 target price on shares of ConforMIS in a report on Thursday, August 2nd.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Archon Capital Management LLC bought a new stake in ConforMIS during the 1st quarter worth about $4,408,000. Renaissance Technologies LLC grew its holdings in ConforMIS by 104.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,006,900 shares of the medical instruments supplier’s stock worth $3,759,000 after acquiring an additional 1,537,565 shares during the last quarter. BlackRock Inc. grew its holdings in ConforMIS by 2.6% during the 1st quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock worth $3,478,000 after acquiring an additional 61,539 shares during the last quarter. Sio Capital Management LLC bought a new stake in ConforMIS during the 1st quarter worth about $3,191,000. Finally, ARK Investment Management LLC grew its holdings in ConforMIS by 64.7% during the 2nd quarter. ARK Investment Management LLC now owns 1,158,321 shares of the medical instruments supplier’s stock worth $1,448,000 after acquiring an additional 455,160 shares during the last quarter. 40.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of CFMS remained flat at $$1.20 during trading hours on Friday. 185,347 shares of the stock traded hands, compared to its average volume of 240,700. The company has a current ratio of 4.77, a quick ratio of 4.15 and a debt-to-equity ratio of 0.60. ConforMIS has a fifty-two week low of $0.88 and a fifty-two week high of $4.17. The company has a market cap of $77.07 million, a price-to-earnings ratio of -0.97 and a beta of 1.12.

ConforMIS (NASDAQ:CFMS) last posted its earnings results on Friday, August 3rd. The medical instruments supplier reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). ConforMIS had a negative return on equity of 94.69% and a negative net margin of 64.66%. The firm had revenue of $19.10 million during the quarter, compared to the consensus estimate of $19.52 million. sell-side analysts predict that ConforMIS will post -0.83 EPS for the current fiscal year.

ConforMIS Company Profile

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.

See Also: Book Value Per Share – BVPS

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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