ConforMIS Inc (NASDAQ:CFMS) Receives $2.33 Average Price Target from Analysts

Shares of ConforMIS Inc (NASDAQ:CFMS) have been assigned an average rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2.33.

A number of analysts have recently issued reports on CFMS shares. Cowen restated an “outperform” rating and issued a $2.00 target price on shares of ConforMIS in a report on Wednesday, June 24th. Zacks Investment Research downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer began coverage on shares of ConforMIS in a research note on Thursday, August 6th. They issued a “buy” rating and a $3.00 price target on the stock.

Shares of CFMS traded up $0.07 during mid-day trading on Tuesday, reaching $0.87. The company’s stock had a trading volume of 634,881 shares, compared to its average volume of 618,762. The business has a fifty day moving average of $0.72 and a 200 day moving average of $0.78. The company has a market cap of $67.26 million, a price-to-earnings ratio of -2.28 and a beta of 1.86. ConforMIS has a 1 year low of $0.50 and a 1 year high of $2.68. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 2.92.

ConforMIS (NASDAQ:CFMS) last released its earnings results on Wednesday, August 5th. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.04. The company had revenue of $19.47 million during the quarter, compared to analyst estimates of $14.65 million. ConforMIS had a negative return on equity of 189.07% and a negative net margin of 35.03%. On average, analysts predict that ConforMIS will post -0.45 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of CFMS. Alambic Investment Management L.P. increased its stake in shares of ConforMIS by 43.6% in the first quarter. Alambic Investment Management L.P. now owns 72,500 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 22,000 shares during the last quarter. Teton Advisors Inc. increased its position in ConforMIS by 48.5% during the first quarter. Teton Advisors Inc. now owns 193,000 shares of the medical instruments supplier’s stock worth $122,000 after buying an additional 63,000 shares during the last quarter. Gabelli Funds LLC increased its position in ConforMIS by 25.2% during the first quarter. Gabelli Funds LLC now owns 167,823 shares of the medical instruments supplier’s stock worth $106,000 after buying an additional 33,767 shares during the last quarter. Two Sigma Advisers LP increased its position in ConforMIS by 44.4% during the first quarter. Two Sigma Advisers LP now owns 52,700 shares of the medical instruments supplier’s stock worth $33,000 after buying an additional 16,200 shares during the last quarter. Finally, Bourgeon Capital Management LLC increased its position in ConforMIS by 250.0% during the second quarter. Bourgeon Capital Management LLC now owns 35,000 shares of the medical instruments supplier’s stock worth $29,000 after buying an additional 25,000 shares during the last quarter. 25.17% of the stock is currently owned by institutional investors and hedge funds.

ConforMIS Company Profile

Conformis, Inc, a medical technology company, develops, manufactures, and sells joint replacement implants. The company offers customized knee replacement products, including iTotal CR, a cruciate-retaining product; iTotal PS, a posterior cruciate ligament substituting product; iDuo, a customized bicompartmental knee replacement system; and iUni, a customized unicompartmental knee replacement product to treat the medial or lateral compartment of the knee.

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