California State Teachers Retirement System raised its position in ConforMIS Inc. (NASDAQ:CFMS) by 237.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,981 shares of the company’s stock after buying an additional 52,730 shares during the period. California State Teachers Retirement System owned 0.18% of ConforMIS worth $526,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CFMS. Bank of New York Mellon Corp raised its position in ConforMIS by 46.9% in the second quarter. Bank of New York Mellon Corp now owns 106,232 shares of the company’s stock worth $745,000 after buying an additional 33,928 shares in the last quarter. Blue Fin Capital Inc. acquired a new position in ConforMIS during the second quarter worth approximately $884,000. Nuveen Asset Management LLC raised its position in ConforMIS by 29.1% in the first quarter. Nuveen Asset Management LLC now owns 196,562 shares of the company’s stock worth $2,113,000 after buying an additional 44,296 shares in the last quarter. Wellington Management Group LLP raised its position in ConforMIS by 58.1% in the first quarter. Wellington Management Group LLP now owns 5,187,018 shares of the company’s stock worth $55,760,000 after buying an additional 1,905,943 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in ConforMIS by 15.1% in the first quarter. Geode Capital Management LLC now owns 77,877 shares of the company’s stock worth $837,000 after buying an additional 10,235 shares in the last quarter. 41.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of ConforMIS Inc. (NASDAQ:CFMS) traded down 0.96% during midday trading on Friday, hitting $10.29. 294,384 shares of the company traded hands. The stock has a 50 day moving average of $8.91 and a 200-day moving average of $8.82. ConforMIS Inc. has a 52 week low of $4.80 and a 52 week high of $23.62. The stock’s market capitalization is $433.49 million.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.01. The business had revenue of $19.30 million for the quarter, compared to the consensus estimate of $18.02 million. ConforMIS had a negative net margin of 84.33% and a negative return on equity of 45.30%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.51) earnings per share. Equities analysts forecast that ConforMIS Inc. will post ($1.40) earnings per share for the current fiscal year.
A number of equities analysts recently commented on the stock. B. Riley assumed coverage on shares of ConforMIS in a research report on Wednesday, September 21st. They set a “buy” rating and a $13.00 price target on the stock. SunTrust Banks Inc. assumed coverage on shares of ConforMIS in a report on Monday, September 19th. They issued a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of ConforMIS from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. raised their target price on shares of ConforMIS from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, August 9th. Finally, Zacks Investment Research raised shares of ConforMIS from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.86.
In other ConforMIS news, CEO Philipp Lang sold 53,860 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $10.19, for a total transaction of $548,833.40. Following the sale, the chief executive officer now directly owns 483,378 shares of the company’s stock, valued at $4,925,621.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth P. Fallon III sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $8.44, for a total transaction of $33,760.00. Following the sale, the director now directly owns 92,222 shares in the company, valued at $778,353.68. The disclosure for this sale can be found here. Company insiders own 9.20% of the company’s stock.
ConforMIS, Inc is a medical technology company that uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants. The Company’s products include iTotal CR, which is the cruciate-retaining, customized total knee replacement system to restore the natural shape of a patient’s knee; iTotal PS, which is the posterior cruciate ligament substituting, or posterior-stabilized, customized total knee replacement product to restore the natural shape of a patient’s knee; iDuo, which is the customized bicompartmental knee replacement system, and iUni, which is the customized unicompartmental knee replacement product for treatment of the medial or lateral compartment of the knee.
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