ConforMIS Inc (NASDAQ:CFMS) has received a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $3.13.
CFMS has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of ConforMIS from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. BTIG Research reissued a “buy” rating and set a $3.00 price objective on shares of ConforMIS in a report on Thursday, May 2nd. BidaskClub lowered shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Oppenheimer raised their price objective on shares of ConforMIS from $2.50 to $3.50 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, ValuEngine raised shares of ConforMIS from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th.
Shares of CFMS stock opened at $4.36 on Friday. The firm has a market cap of $263.31 million, a price-to-earnings ratio of -5.89 and a beta of 2.23. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.33 and a current ratio of 3.00. ConforMIS has a 1-year low of $0.36 and a 1-year high of $4.83. The business’s fifty day moving average is $3.89.
In other news, CEO Mark A. Augusti sold 25,477 shares of ConforMIS stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $2.72, for a total value of $69,297.44. Following the completion of the transaction, the chief executive officer now directly owns 1,123,698 shares of the company’s stock, valued at approximately $3,056,458.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradley Langdale sold 20,542 shares of ConforMIS stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $2.88, for a total transaction of $59,160.96. Following the completion of the transaction, the director now directly owns 115,484 shares of the company’s stock, valued at $332,593.92. The disclosure for this sale can be found here. Insiders sold a total of 74,535 shares of company stock valued at $214,211 over the last ninety days. Company insiders own 3.38% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of ConforMIS by 133.8% in the 1st quarter. Creative Planning now owns 116,922 shares of the medical instruments supplier’s stock valued at $337,000 after buying an additional 66,922 shares during the period. Larson Financial Group LLC boosted its stake in ConforMIS by 588.6% during the 1st quarter. Larson Financial Group LLC now owns 24,100 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 20,600 shares during the period. Acadian Asset Management LLC boosted its stake in ConforMIS by 26.0% during the 4th quarter. Acadian Asset Management LLC now owns 127,166 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 26,202 shares during the period. Joseph P. Lucia & Associates LLC acquired a new position in ConforMIS during the 1st quarter valued at about $45,100,000. Finally, Cornerstone Advisory LLC acquired a new position in ConforMIS during the 1st quarter valued at about $72,000. 34.11% of the stock is owned by institutional investors and hedge funds.
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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