ConforMIS (CFMS) PT Lowered to $2.50 at Canaccord Genuity

ConforMIS (NASDAQ:CFMS) had its price target cut by research analysts at Canaccord Genuity from $3.00 to $2.50 in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 204.88% from the stock’s current price.

CFMS has been the topic of several other reports. Zacks Investment Research lowered ConforMIS from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer restated a “buy” rating on shares of ConforMIS in a research note on Tuesday, September 18th. SunTrust Banks restated a “buy” rating on shares of ConforMIS in a research note on Monday, July 16th. Finally, BTIG Research restated a “buy” rating and set a $3.00 price target on shares of ConforMIS in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. ConforMIS currently has an average rating of “Buy” and an average target price of $2.95.

CFMS traded down $0.03 on Thursday, hitting $0.82. 1,700 shares of the stock traded hands, compared to its average volume of 197,594. ConforMIS has a 52 week low of $0.80 and a 52 week high of $3.83. The company has a quick ratio of 4.15, a current ratio of 4.77 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $55.68 million, a price-to-earnings ratio of -0.65 and a beta of 1.13.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. ConforMIS had a negative return on equity of 94.69% and a negative net margin of 64.66%. The firm had revenue of $28.98 million for the quarter, compared to analyst estimates of $19.21 million. Equities research analysts expect that ConforMIS will post -0.83 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in ConforMIS by 79.9% during the first quarter. Dimensional Fund Advisors LP now owns 91,356 shares of the medical instruments supplier’s stock valued at $132,000 after purchasing an additional 40,563 shares in the last quarter. BlackRock Inc. boosted its holdings in ConforMIS by 2.6% during the first quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock valued at $3,478,000 after purchasing an additional 61,539 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in ConforMIS by 93.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 140,943 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 68,000 shares in the last quarter. Spark Investment Management LLC boosted its holdings in ConforMIS by 60.5% during the second quarter. Spark Investment Management LLC now owns 193,989 shares of the medical instruments supplier’s stock valued at $242,000 after purchasing an additional 73,089 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in ConforMIS by 20.2% during the first quarter. Northern Trust Corp now owns 538,985 shares of the medical instruments supplier’s stock valued at $782,000 after purchasing an additional 90,447 shares in the last quarter. 40.16% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

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