ConforMIS (CFMS) Hits New 12-Month Low at $3.02

ConforMIS Inc (NASDAQ:CFMS) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.02 and last traded at $3.19, with a volume of 766900 shares traded. The stock had previously closed at $3.30.

Several research analysts recently issued reports on CFMS shares. BTIG Research reiterated a “hold” rating on shares of ConforMIS in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of ConforMIS from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, ValuEngine upgraded shares of ConforMIS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.85.

The company has a current ratio of 6.19, a quick ratio of 5.38 and a debt-to-equity ratio of 0.52.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.03. ConforMIS had a negative net margin of 67.69% and a negative return on equity of 79.92%. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $17.55 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. sell-side analysts forecast that ConforMIS Inc will post -1.27 earnings per share for the current year.

In other news, CTO Daniel Steines sold 15,485 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.15, for a total transaction of $48,777.75. Following the completion of the transaction, the chief technology officer now directly owns 254,652 shares of the company’s stock, valued at $802,153.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul S. Weiner sold 17,723 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $3.17, for a total transaction of $56,181.91. Following the transaction, the chief financial officer now directly owns 162,009 shares of the company’s stock, valued at $513,568.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,346 shares of company stock valued at $166,598. Company insiders own 9.55% of the company’s stock.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of ConforMIS by 2.0% during the second quarter. Wells Fargo & Company MN now owns 55,021 shares of the medical instruments supplier’s stock valued at $236,000 after acquiring an additional 1,091 shares during the last quarter. American International Group Inc. raised its stake in shares of ConforMIS by 7.0% during the first quarter. American International Group Inc. now owns 22,009 shares of the medical instruments supplier’s stock valued at $115,000 after acquiring an additional 1,448 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of ConforMIS by 21.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,121 shares of the medical instruments supplier’s stock valued at $158,000 after acquiring an additional 6,535 shares during the last quarter. Rhumbline Advisers raised its stake in shares of ConforMIS by 21.8% during the second quarter. Rhumbline Advisers now owns 44,782 shares of the medical instruments supplier’s stock valued at $192,000 after acquiring an additional 8,017 shares during the last quarter. Finally, State Street Corp raised its stake in shares of ConforMIS by 1.5% during the second quarter. State Street Corp now owns 594,583 shares of the medical instruments supplier’s stock valued at $2,550,000 after acquiring an additional 8,693 shares during the last quarter. 36.04% of the stock is owned by hedge funds and other institutional investors.

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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.

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