Conformis (NASDAQ:CFMS) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Conformis (NASDAQ:CFMSGet Rating) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the medical instruments supplier’s stock.

CFMS has been the topic of several other reports. Oppenheimer lifted their price target on shares of Conformis from $1.25 to $8.00 and gave the company an “outperform” rating in a report on Friday, November 11th. Canaccord Genuity Group decreased their price target on shares of Conformis from $2.00 to $1.00 and set a “buy” rating on the stock in a report on Thursday, August 11th.

Conformis Price Performance

Shares of NASDAQ:CFMS opened at $2.03 on Monday. The stock has a market capitalization of $15.26 million, a PE ratio of -0.23 and a beta of 1.14. The company has a current ratio of 5.07, a quick ratio of 4.04 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $0.36 and a 200-day moving average of $0.34. Conformis has a 12 month low of $1.20 and a 12 month high of $25.50.

Conformis (NASDAQ:CFMSGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The medical instruments supplier reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $13.78 million for the quarter, compared to the consensus estimate of $13.89 million. Conformis had a negative net margin of 104.46% and a negative return on equity of 78.14%. On average, equities research analysts predict that Conformis will post -8.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Conformis

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Conformis by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 368,020 shares of the medical instruments supplier’s stock worth $71,000 after acquiring an additional 8,191 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Conformis by 4.1% in the 3rd quarter. Renaissance Technologies LLC now owns 4,763,691 shares of the medical instruments supplier’s stock worth $911,000 after purchasing an additional 188,200 shares during the period. MYDA Advisors LLC acquired a new position in shares of Conformis in the 3rd quarter worth approximately $133,000. Jane Street Group LLC acquired a new position in shares of Conformis in the 2nd quarter worth approximately $84,000. Finally, Millennium Management LLC acquired a new position in shares of Conformis in the 2nd quarter worth approximately $160,000. 43.72% of the stock is owned by institutional investors.

Conformis Company Profile

(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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