Numeric Investors LLC Acquires New Stake in ConforMIS Inc (CFMS)

Numeric Investors LLC bought a new stake in ConforMIS Inc (NASDAQ:CFMS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,600 shares of the medical instruments supplier’s stock, valued at approximately $159,000.

A number of other hedge funds have also recently bought and sold shares of CFMS. Bank of Montreal Can bought a new stake in ConforMIS during the third quarter valued at $312,000. Papp L Roy & Associates bought a new stake in ConforMIS during the third quarter valued at $106,000. Wells Fargo & Company MN boosted its stake in ConforMIS by 76.4% in the third quarter. Wells Fargo & Company MN now owns 41,793 shares of the medical instruments supplier’s stock valued at $414,000 after buying an additional 18,106 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in ConforMIS by 19.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 137,100 shares of the medical instruments supplier’s stock valued at $1,360,000 after buying an additional 22,100 shares during the period. Finally, Altrinsic Global Advisors LLC bought a new stake in ConforMIS during the third quarter valued at $2,271,000. Institutional investors and hedge funds own 39.63% of the company’s stock.

Institutional Ownership by Quarter for ConforMIS (NASDAQ:CFMS)

Shares of ConforMIS Inc (NASDAQ:CFMS) traded down 3.11% during midday trading on Friday, reaching $5.29. 229,375 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $5.07 and its 200-day moving average is $7.57. The stock’s market cap is $231.81 million. ConforMIS Inc has a 12-month low of $4.35 and a 12-month high of $13.83.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Wednesday, February 15th. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The business earned $21.70 million during the quarter, compared to analysts’ expectations of $21.37 million. ConforMIS had a negative return on equity of 46.41% and a negative net margin of 73.53%. On average, equities analysts expect that ConforMIS Inc will post ($1.39) EPS for the current year.

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Several research firms have recently weighed in on CFMS. Zacks Investment Research upgraded shares of ConforMIS from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a research report on Thursday, February 16th. B. Riley reiterated a “buy” rating and issued a $7.50 target price on shares of ConforMIS in a research report on Thursday, February 16th. Finally, Canaccord Genuity cut shares of ConforMIS from a “buy” rating to a “hold” rating and decreased their target price for the stock from $12.00 to $7.00 in a research report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. ConforMIS has an average rating of “Hold” and a consensus target price of $10.61.

In other ConforMIS news, Director Philipp Lang sold 9,681 shares of the company’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $8.60, for a total value of $83,256.60. Following the sale, the director now owns 519,784 shares of the company’s stock, valued at $4,470,142.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Cerveny sold 3,569 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $8.59, for a total value of $30,657.71. Following the completion of the sale, the insider now directly owns 87,501 shares in the company, valued at approximately $751,633.59. The disclosure for this sale can be found here. Insiders sold 376,584 shares of company stock valued at $3,220,105 in the last quarter. 9.20% of the stock is currently owned by company insiders.

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.

5 Day Chart for NASDAQ:CFMS

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