ConforMIS (CFMS) Releases Earnings Results, Beats Expectations By $0.03 EPS

ConforMIS (NASDAQ:CFMS) announced its earnings results on Wednesday. The medical instruments supplier reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.03, Briefing.com reports. ConforMIS had a negative return on equity of 78.44% and a negative net margin of 68.59%. The business had revenue of $20.80 million for the quarter, compared to analyst estimates of $20.07 million. During the same quarter last year, the firm earned ($0.37) EPS. ConforMIS’s revenue for the quarter was down 4.1% compared to the same quarter last year.

Shares of ConforMIS (NASDAQ CFMS) traded up $0.08 during trading on Friday, reaching $1.28. The company had a trading volume of 63,521 shares, compared to its average volume of 860,614. ConforMIS has a 1-year low of $1.15 and a 1-year high of $8.61. The firm has a market cap of $74.17, a price-to-earnings ratio of -0.97 and a beta of 1.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.38 and a current ratio of 6.19.

In other ConforMIS news, CEO Mark A. Augusti sold 16,548 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 285,007 shares in the company, valued at $646,965.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul S. Weiner sold 17,723 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total value of $56,181.91. Following the completion of the transaction, the chief financial officer now owns 162,009 shares of the company’s stock, valued at $513,568.53. The disclosure for this sale can be found here. In the last three months, insiders sold 93,291 shares of company stock worth $248,077. 9.55% of the stock is owned by insiders.

An institutional investor recently raised its position in ConforMIS stock. State Street Corp raised its stake in ConforMIS Inc (NASDAQ:CFMS) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 594,583 shares of the medical instruments supplier’s stock after purchasing an additional 8,693 shares during the quarter. State Street Corp owned approximately 1.33% of ConforMIS worth $2,550,000 at the end of the most recent reporting period. 35.37% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on CFMS shares. Oppenheimer set a $4.00 target price on ConforMIS and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research lowered ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. lowered ConforMIS from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 2nd. BTIG Research raised ConforMIS from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Wednesday, December 20th. Finally, Canaccord Genuity dropped their target price on ConforMIS from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.88.

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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.

Earnings History for ConforMIS (NASDAQ:CFMS)

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