ConforMIS (CFMS) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of ConforMIS (NASDAQ:CFMS) from a hold rating to a buy rating in a research note issued to investors on Monday. They currently have $1.50 price objective 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. “

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Other equities research analysts have also issued research reports about the company. Oppenheimer reiterated a buy rating on shares of ConforMIS in a research report on Thursday, March 22nd. BTIG Research restated a buy rating and issued a $4.00 price objective on shares of ConforMIS in a research report on Wednesday, January 10th. Canaccord Genuity lowered their price objective on ConforMIS from $5.00 to $4.00 and set a hold rating on the stock in a research report on Thursday, February 8th. Cowen started coverage on ConforMIS in a research report on Wednesday, February 21st. They issued an outperform rating and a $4.00 price objective on the stock. Finally, JPMorgan Chase lowered ConforMIS from a neutral rating to an underweight rating in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. ConforMIS presently has a consensus rating of Hold and an average price target of $4.29.

Shares of ConforMIS stock opened at $1.41 on Monday. ConforMIS has a one year low of $1.15 and a one year high of $5.98. The stock has a market capitalization of $85.79, a price-to-earnings ratio of -1.14 and a beta of 1.01. 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 issued its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.03. The business had revenue of $20.80 million for the quarter, compared to analyst estimates of $20.07 million. ConforMIS had a negative return on equity of 85.24% and a negative net margin of 68.59%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.37) earnings per share. sell-side analysts anticipate that ConforMIS will post -0.86 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of ConforMIS by 1.5% during the 2nd 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 during the period. Prosight Management LP acquired a new position in shares of ConforMIS during the 4th quarter worth approximately $952,000. ARK Investment Management LLC raised its stake in shares of ConforMIS by 44.0% during the 4th quarter. ARK Investment Management LLC now owns 390,564 shares of the medical instruments supplier’s stock worth $930,000 after buying an additional 119,355 shares during the period. Renaissance Technologies LLC raised its stake in shares of ConforMIS by 627.0% during the 4th quarter. Renaissance Technologies LLC now owns 346,800 shares of the medical instruments supplier’s stock worth $825,000 after buying an additional 299,100 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of ConforMIS by 43.5% during the 4th 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 during the period. 22.98% of the stock is owned by institutional investors and hedge funds.

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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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Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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