ConforMIS, Inc. (CFMS) Given a $8.00 Price Target at Canaccord Genuity

ConforMIS, Inc. (NASDAQ:CFMS) has been assigned a $8.00 price objective by equities research analysts at Canaccord Genuity in a research report issued on Thursday, May 11th. The brokerage presently has a “hold” rating on the medical instruments supplier’s stock. Canaccord Genuity’s target price would indicate a potential upside of 94.17% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. B. Riley reiterated a “buy” rating and issued a $7.50 price target on shares of ConforMIS in a research note on Thursday, May 11th. Zacks Investment Research upgraded shares of ConforMIS from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $9.88.

Analyst Recommendations for ConforMIS (NASDAQ:CFMS)

ConforMIS (NASDAQ CFMS) opened at 4.12 on Thursday. The firm’s market capitalization is $180.66 million. ConforMIS has a 1-year low of $3.89 and a 1-year high of $10.93. The stock has a 50 day moving average of $4.73 and a 200-day moving average of $6.38.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Wednesday, May 10th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by $0.04. ConforMIS had a negative net margin of 74.55% and a negative return on equity of 60.57%. The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $18.48 million. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that ConforMIS will post ($1.44) earnings per share for the current year.

WARNING: This report was first published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/06/17/canaccord-genuity-analysts-give-conformis-inc-cfms-a-8-00-price-target-updated-updated-updated.html.

In other news, insider Daniel Steines sold 5,000 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $5.54, for a total transaction of $27,700.00. Following the transaction, the insider now directly owns 190,745 shares in the company, valued at approximately $1,056,727.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.55% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFMS. Goldman Sachs Group Inc. raised its position in ConforMIS by 1,313.6% in the first quarter. Goldman Sachs Group Inc. now owns 148,147 shares of the medical instruments supplier’s stock valued at $773,000 after buying an additional 137,667 shares in the last quarter. Platinum Investment Management Ltd. raised its position in ConforMIS by 49.0% in the first quarter. Platinum Investment Management Ltd. now owns 271,256 shares of the medical instruments supplier’s stock valued at $1,415,000 after buying an additional 89,200 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in ConforMIS by 99.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 111,500 shares of the medical instruments supplier’s stock valued at $583,000 after buying an additional 55,500 shares in the last quarter. UBS Group AG raised its position in ConforMIS by 53.0% in the first quarter. UBS Group AG now owns 269,551 shares of the medical instruments supplier’s stock valued at $1,407,000 after buying an additional 93,330 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in ConforMIS by 4.4% in the first quarter. Geode Capital Management LLC now owns 329,058 shares of the medical instruments supplier’s stock valued at $1,717,000 after buying an additional 13,731 shares in the last quarter. Institutional investors own 38.97% of the company’s stock.

About ConforMIS

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.

What are top analysts saying about ConforMIS Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ConforMIS Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit