ConforMIS (CFMS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of ConforMIS (NASDAQ:CFMS) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

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. “

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A number of other research analysts also recently weighed in on the company. BTIG Research reissued a buy rating and issued a $4.00 target price on shares of ConforMIS in a report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded ConforMIS from a neutral rating to an underweight rating in a report on Tuesday, January 2nd. Cowen initiated coverage on ConforMIS in a report on Wednesday, February 21st. They issued an outperform rating and a $4.00 target price on the stock. Canaccord Genuity lowered their target price on ConforMIS from $5.00 to $4.00 and set a hold rating on the stock in a report on Thursday, February 8th. Finally, Oppenheimer set a $4.00 price target on ConforMIS and gave the stock a buy rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $4.29.

CFMS stock opened at $1.38 on Wednesday. ConforMIS has a 1-year low of $1.15 and a 1-year 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 earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $20.07 million. During the same quarter in the prior year, the company earned ($0.37) earnings per share. ConforMIS’s revenue was down 4.1% on a year-over-year basis. equities analysts anticipate that ConforMIS will post -0.86 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its position in ConforMIS by 21.4% in the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock worth $158,000 after buying an additional 6,535 shares in the last quarter. State Street Corp increased its position in ConforMIS by 1.5% in the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock worth $2,550,000 after buying an additional 8,693 shares in the last quarter. Deutsche Bank AG increased its position in ConforMIS by 43.5% in the fourth quarter. Deutsche Bank AG now owns 120,849 shares of the medical instruments supplier’s stock worth $286,000 after buying an additional 36,634 shares in the last quarter. Two Sigma Investments LP purchased a new stake in ConforMIS in the fourth quarter worth about $130,000. Finally, Northern Trust Corp increased its position in ConforMIS by 15.2% in the second quarter. Northern Trust Corp now owns 454,468 shares of the medical instruments supplier’s stock worth $1,950,000 after buying an additional 60,034 shares in the last quarter. Institutional investors and hedge funds own 22.97% of the company’s stock.

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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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