ConforMIS (NASDAQ:CFMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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. “

Other research analysts have also issued research reports about the company. Oppenheimer set a $4.00 price target on ConforMIS and gave the stock a “buy” rating in a research note on Thursday. BTIG Research reissued a “buy” rating and set a $4.00 price target on shares of ConforMIS in a research note on Wednesday, January 10th. Canaccord Genuity reduced their price target on ConforMIS from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered ConforMIS from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.88.

Shares of ConforMIS (NASDAQ CFMS) traded up $0.11 during trading hours on Monday, reaching $1.49. The company’s stock had a trading volume of 1,408,030 shares, compared to its average volume of 908,970. The firm has a market cap of $66.58 and a PE ratio of -1.20. The company has a current ratio of 6.19, a quick ratio of 5.38 and a debt-to-equity ratio of 0.52. ConforMIS has a 52-week low of $1.15 and a 52-week high of $8.61.

ConforMIS (NASDAQ:CFMS) last announced its earnings results on Wednesday, February 7th. The medical instruments supplier reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. ConforMIS had a negative return on equity of 78.44% and a negative net margin of 68.59%. The firm had revenue of $20.80 million for the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. ConforMIS’s quarterly 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.

In related news, CEO Mark A. Augusti sold 16,548 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $2.27, for a total value of $37,563.96. Following the transaction, the chief executive officer now directly owns 285,007 shares of the company’s stock, valued at approximately $646,965.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Daniel Steines sold 15,485 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $3.15, for a total value of $48,777.75. Following the completion of the transaction, the chief technology officer now directly owns 254,652 shares in the company, valued at $802,153.80. The disclosure for this sale can be found here. Insiders sold a total of 93,291 shares of company stock worth $248,077 over the last ninety days. Corporate insiders own 9.55% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Stonebridge Capital Management Inc. purchased a new position in ConforMIS in the third quarter valued at about $130,000. The Manufacturers Life Insurance Company raised 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 valued at $158,000 after purchasing an additional 6,535 shares during the period. Alliancebernstein L.P. raised its position in ConforMIS by 31.1% in the second quarter. Alliancebernstein L.P. now owns 40,000 shares of the medical instruments supplier’s stock valued at $172,000 after purchasing an additional 9,500 shares during the period. Rhumbline Advisers raised its position in ConforMIS by 21.8% in the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after purchasing an additional 8,017 shares during the period. Finally, Swiss National Bank raised its position in ConforMIS by 59.2% in the second quarter. Swiss National Bank now owns 53,500 shares of the medical instruments supplier’s stock valued at $230,000 after purchasing an additional 19,900 shares during the period. 26.99% 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.

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Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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