Zacks Investment Research upgraded shares of ConforMIS (NASDAQ:CFMS) from a hold rating to a buy rating in a report published on Tuesday. They currently have $1.50 price target on the medical instruments supplier’s stock.
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 research reports. JPMorgan Chase & Co. cut ConforMIS from a neutral rating to an underweight rating in a report on Tuesday, January 2nd. Cowen started coverage on ConforMIS in a report on Wednesday, February 21st. They set an outperform rating and a $4.00 price target for the company. Oppenheimer set a $4.00 price target on ConforMIS and gave the stock a buy rating in a report on Thursday, February 8th. Canaccord Genuity reissued a hold rating on shares of ConforMIS in a report on Monday, March 12th. Finally, BTIG Research reissued a buy rating and set a $4.00 price target on shares of ConforMIS in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $4.29.
ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. ConforMIS had a negative return on equity of 85.24% and a negative net margin of 68.59%. The company had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter in the previous year, the firm earned ($0.37) EPS. ConforMIS’s revenue was down 4.1% on a year-over-year basis. research analysts expect that ConforMIS will post -0.86 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP acquired a new position in ConforMIS in the 4th quarter worth about $130,000. The Manufacturers Life Insurance Company increased its holdings in ConforMIS by 21.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock worth $158,000 after purchasing an additional 6,535 shares in the last quarter. Wells Fargo & Company MN increased its holdings in ConforMIS by 2.0% in the 2nd quarter. Wells Fargo & Company MN now owns 55,021 shares of the medical instruments supplier’s stock worth $236,000 after purchasing an additional 1,091 shares in the last quarter. Deutsche Bank AG increased its holdings in ConforMIS by 43.5% in the 4th quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 36,634 shares in the last quarter. Finally, Spark Investment Management LLC increased its holdings in ConforMIS by 245.3% in the 4th quarter. Spark Investment Management LLC now owns 120,500 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 85,600 shares in the last quarter. 22.97% of the stock is owned by institutional investors and hedge funds.
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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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