ConforMIS Inc (CFMS) Insider Sells $15,759.68 in Stock

ConforMIS Inc (NASDAQ:CFMS) insider Patricia A. Davis sold 5,794 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $2.72, for a total value of $15,759.68. Following the completion of the sale, the insider now owns 337,310 shares of the company’s stock, valued at approximately $917,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ CFMS opened at $3.58 on Friday. ConforMIS Inc has a 1-year low of $0.36 and a 1-year high of $3.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.33 and a current ratio of 3.00. The firm has a market capitalization of $233.45 million, a PE ratio of -4.84 and a beta of 3.05.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.12) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.12). ConforMIS had a negative net margin of 42.90% and a negative return on equity of 97.85%. The business had revenue of $20.64 million for the quarter, compared to the consensus estimate of $20.11 million. On average, sell-side analysts predict that ConforMIS Inc will post -0.43 EPS for the current year.

A number of research firms have recently issued reports on CFMS. Zacks Investment Research lowered ConforMIS from a “hold” rating to a “sell” rating in a report on Monday, March 18th. Oppenheimer set a $4.00 price target on shares of ConforMIS and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $3.00 price target on shares of ConforMIS in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. ConforMIS currently has an average rating of “Buy” and a consensus price target of $3.00.

A number of institutional investors have recently bought and sold shares of CFMS. Gabelli Funds LLC increased its position in ConforMIS by 76.2% during the fourth quarter. Gabelli Funds LLC now owns 104,056 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 45,000 shares during the last quarter. Acadian Asset Management LLC increased its position in ConforMIS by 26.0% during the fourth quarter. Acadian Asset Management LLC now owns 127,166 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 26,202 shares during the last quarter. MML Investors Services LLC acquired a new position in ConforMIS during the first quarter worth $58,000. PNC Financial Services Group Inc. increased its position in ConforMIS by 100.0% during the first quarter. PNC Financial Services Group Inc. now owns 20,000 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 10,000 shares during the last quarter. Finally, Morgan Stanley increased its position in ConforMIS by 197.3% during the first quarter. Morgan Stanley now owns 20,079 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 13,325 shares during the last quarter. 34.08% of the stock is currently owned by hedge funds and other institutional investors.

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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.

See Also: Preferred Stock

Insider Buying and Selling by Quarter for ConforMIS (NASDAQ:CFMS)

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