Brokerages Set ConforMIS Inc (CFMS) Price Target at $2.90

Shares of ConforMIS Inc (NASDAQ:CFMS) have been given a consensus rating of “Buy” by the seven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.90.

A number of analysts have issued reports on CFMS shares. ValuEngine raised ConforMIS from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded ConforMIS from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, Oppenheimer lifted their price objective on ConforMIS from $2.50 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFMS. Renaissance Technologies LLC increased its position in shares of ConforMIS by 10.0% during the 3rd quarter. Renaissance Technologies LLC now owns 3,306,461 shares of the medical instruments supplier’s stock valued at $3,505,000 after purchasing an additional 299,561 shares during the last quarter. Tibra Equities Europe Ltd bought a new position in shares of ConforMIS during the 1st quarter valued at approximately $381,000. CAPROCK Group Inc. boosted its holdings in ConforMIS by 300.0% during the 1st quarter. CAPROCK Group Inc. now owns 80,000 shares of the medical instruments supplier’s stock valued at $230,000 after acquiring an additional 60,000 shares during the period. Gabelli Funds LLC boosted its holdings in ConforMIS by 76.2% during the 4th quarter. Gabelli Funds LLC now owns 104,056 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 45,000 shares during the period. Finally, Vanguard Group Inc boosted its holdings in ConforMIS by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 2,230,254 shares of the medical instruments supplier’s stock valued at $2,364,000 after acquiring an additional 28,556 shares during the period. 29.84% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CFMS traded down $0.01 during trading hours on Monday, reaching $2.68. The company’s stock had a trading volume of 1,224,196 shares, compared to its average volume of 1,257,717. The company has a current ratio of 4.22, a quick ratio of 3.38 and a debt-to-equity ratio of 0.41. ConforMIS has a 1 year low of $0.36 and a 1 year high of $2.95. The stock has a market cap of $182.02 million, a PE ratio of -3.62 and a beta of 3.18.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Wednesday, February 6th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.04. ConforMIS had a negative return on equity of 91.73% and a negative net margin of 48.30%. The business had revenue of $22.05 million for the quarter, compared to the consensus estimate of $21.45 million. On average, analysts forecast that ConforMIS will post -0.43 EPS for the current fiscal year.

About ConforMIS

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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