Oppenheimer Reaffirms “Buy” Rating for ConforMIS (CFMS)

ConforMIS (NASDAQ:CFMS)‘s stock had its “buy” rating restated by Oppenheimer in a research report issued on Thursday.

Several other research analysts also recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price target on shares of ConforMIS in a research note on Wednesday, January 10th. Zacks Investment Research downgraded shares of ConforMIS from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. downgraded shares of ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Cowen initiated coverage on shares of ConforMIS in a research note on Wednesday, February 21st. They issued an “outperform” rating and a $4.00 price target on the stock. Finally, Canaccord Genuity reduced their price target on shares of ConforMIS from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. ConforMIS has a consensus rating of “Hold” and a consensus price target of $4.29.

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ConforMIS stock opened at $1.38 on Thursday. The company has a market cap of $87.61, a PE ratio of -1.11 and a beta of 1.22. ConforMIS has a 12 month low of $1.15 and a 12 month high of $5.98. The company has a quick ratio of 4.70, a current ratio of 5.41 and a debt-to-equity ratio of 0.64.

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 the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. The company had revenue of $20.80 million for the quarter, compared to the consensus estimate of $20.07 million. ConforMIS had a negative net margin of 68.59% and a negative return on equity of 85.24%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.37) EPS. analysts forecast that ConforMIS will post -0.86 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new position in ConforMIS during the 4th quarter valued at about $130,000. Deutsche Bank AG increased its position in ConforMIS by 43.5% during the 4th quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock valued at $286,000 after purchasing an additional 36,634 shares during the period. Renaissance Technologies LLC increased its position in ConforMIS by 627.0% during the 4th quarter. Renaissance Technologies LLC now owns 346,800 shares of the medical instruments supplier’s stock valued at $825,000 after purchasing an additional 299,100 shares during the period. Prosight Management LP purchased a new position in ConforMIS during the 4th quarter valued at about $952,000. Finally, ARK Investment Management LLC increased its position in ConforMIS by 44.0% during the 4th quarter. ARK Investment Management LLC now owns 390,564 shares of the medical instruments supplier’s stock valued at $930,000 after purchasing an additional 119,355 shares during the period. 22.97% of the stock is currently owned by institutional investors and hedge funds.

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ConforMIS Company Profile

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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