Brokerages Expect ConforMIS Inc (NASDAQ:CFMS) Will Announce Quarterly Sales of $19.36 Million

Equities research analysts expect ConforMIS Inc (NASDAQ:CFMS) to report $19.36 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for ConforMIS’s earnings, with the lowest sales estimate coming in at $19.29 million and the highest estimate coming in at $19.43 million. ConforMIS reported sales of $19.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that ConforMIS will report full-year sales of $82.28 million for the current fiscal year, with estimates ranging from $82.05 million to $82.51 million. For the next fiscal year, analysts expect that the company will post sales of $89.87 million, with estimates ranging from $89.36 million to $90.37 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover ConforMIS.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.12) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.12). ConforMIS had a negative return on equity of 97.85% and a negative net margin of 42.90%. The firm had revenue of $20.64 million for the quarter, compared to analysts’ expectations of $20.11 million.

A number of research analysts have commented on the company. BidaskClub cut ConforMIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. ValuEngine upgraded ConforMIS from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research cut ConforMIS from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Oppenheimer lifted their target price on ConforMIS from $2.50 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $3.00 target price on shares of ConforMIS in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $3.00.

Shares of ConforMIS stock opened at $4.36 on Friday. The firm has a fifty day moving average price of $3.89. The firm has a market capitalization of $263.31 million, a PE ratio of -5.89 and a beta of 2.23. ConforMIS has a twelve month low of $0.36 and a twelve month high of $4.83. The company has a quick ratio of 2.33, a current ratio of 3.00 and a debt-to-equity ratio of 0.64.

In other news, CEO Mark A. Augusti sold 25,477 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $2.72, for a total transaction of $69,297.44. Following the completion of the transaction, the chief executive officer now directly owns 1,123,698 shares in the company, valued at $3,056,458.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bradley Langdale sold 20,542 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $2.88, for a total value of $59,160.96. Following the transaction, the director now owns 115,484 shares of the company’s stock, valued at $332,593.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,535 shares of company stock valued at $214,211. 3.38% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its position in ConforMIS by 133.8% in the first quarter. Creative Planning now owns 116,922 shares of the medical instruments supplier’s stock worth $337,000 after purchasing an additional 66,922 shares during the period. Larson Financial Group LLC lifted its position in ConforMIS by 588.6% in the first quarter. Larson Financial Group LLC now owns 24,100 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 20,600 shares during the period. Acadian Asset Management LLC lifted its position in ConforMIS by 26.0% in the fourth quarter. Acadian Asset Management LLC now owns 127,166 shares of the medical instruments supplier’s stock worth $45,000 after purchasing an additional 26,202 shares during the period. Joseph P. Lucia & Associates LLC acquired a new stake in ConforMIS in the first quarter worth approximately $45,100,000. Finally, Cornerstone Advisory LLC acquired a new stake in ConforMIS in the first quarter worth approximately $72,000. Hedge funds and other institutional investors own 34.11% of the company’s stock.

ConforMIS Company Profile

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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Earnings History and Estimates for ConforMIS (NASDAQ:CFMS)

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