StockNews.com Begins Coverage on Conformis (NASDAQ:CFMS)

Posted by on May 21st, 2022

StockNews.com began coverage on shares of Conformis (NASDAQ:CFMS – Get Rating) in a research note issued to investors on Saturday. The firm set a “hold” rating on the medical instruments supplier’s stock.

Separately, Zacks Investment Research raised Conformis from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 4th.

NASDAQ CFMS opened at $0.40 on Friday. The stock’s fifty day moving average is $0.56 and its two-hundred day moving average is $0.70. The firm has a market capitalization of $74.99 million, a P/E ratio of -10.11 and a beta of 1.42. The company has a debt-to-equity ratio of 0.24, a quick ratio of 5.87 and a current ratio of 6.84. Conformis has a fifty-two week low of $0.29 and a fifty-two week high of $1.96.

Conformis (NASDAQ:CFMS – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Conformis had a negative return on equity of 6.50% and a negative net margin of 6.83%. During the same period last year, the business posted ($0.09) EPS. As a group, sell-side analysts forecast that Conformis will post -0.31 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CFMS. Stonepine Capital Management LLC lifted its stake in Conformis by 2,932.7% during the 4th quarter. Stonepine Capital Management LLC now owns 14,768,823 shares of the medical instruments supplier’s stock worth $11,245,000 after acquiring an additional 14,281,841 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Conformis by 169.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,874,300 shares of the medical instruments supplier’s stock worth $3,823,000 after purchasing an additional 1,808,300 shares during the period. Wasatch Advisors Inc. increased its holdings in Conformis by 9.7% during the 1st quarter. Wasatch Advisors Inc. now owns 20,030,298 shares of the medical instruments supplier’s stock worth $12,495,000 after purchasing an additional 1,778,054 shares during the period. Two Sigma Investments LP increased its holdings in Conformis by 75.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,593,973 shares of the medical instruments supplier’s stock worth $2,120,000 after purchasing an additional 685,838 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Conformis by 416.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 647,926 shares of the medical instruments supplier’s stock worth $862,000 after purchasing an additional 522,408 shares during the period. 51.01% of the stock is currently owned by hedge funds and other institutional investors.

About Conformis (Get Rating)

Conformis, Inc, a medical technology company, develops, manufactures, and sells patient-specific products and instrumentation. The company offers personalized knee replacement products, including iUni, iDuo, a custom-made partial knee replacement option for either unicompartmental or bicompartmental osteoarthritis of the knee; iTotal CR, a cruciate retaining total knee replacement product; iTotal PS, a posterior stabilized knee replacement product, as well as provides iTotal Identity and Identity Imprint knee replacement products.

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