Brokerages forecast that ConforMIS Inc (NASDAQ:CFMS) will post sales of $21.14 million for the current quarter, Zacks reports. Three analysts have provided estimates for ConforMIS’s earnings, with the highest sales estimate coming in at $21.25 million and the lowest estimate coming in at $21.08 million. ConforMIS reported sales of $20.75 million in the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 6th.
On average, analysts expect that ConforMIS will report full year sales of $88.88 million for the current year, with estimates ranging from $88.82 million to $88.99 million. For the next financial year, analysts expect that the company will post sales of $82.19 million, with estimates ranging from $81.87 million to $82.46 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ConforMIS.
ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.08. ConforMIS had a negative return on equity of 90.97% and a negative net margin of 51.25%. The company had revenue of $28.98 million for the quarter, compared to analyst estimates of $19.21 million.
Several research firms have commented on CFMS. Zacks Investment Research lowered ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Canaccord Genuity dropped their target price on ConforMIS from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Oppenheimer set a $3.00 target price on ConforMIS and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Cowen reaffirmed a “buy” rating and set a $3.00 target price on shares of ConforMIS in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.45.
NASDAQ:CFMS traded down $0.02 during mid-day trading on Wednesday, hitting $0.51. The company had a trading volume of 236,975 shares, compared to its average volume of 438,881. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.71 and a quick ratio of 4.91. ConforMIS has a 1 year low of $0.42 and a 1 year high of $2.87. The firm has a market capitalization of $33.60 million, a PE ratio of -0.41 and a beta of 1.13.
Several hedge funds and other institutional investors have recently made changes to their positions in CFMS. Renaissance Technologies LLC increased its position in shares of ConforMIS by 104.6% during the second quarter. Renaissance Technologies LLC now owns 3,006,900 shares of the medical instruments supplier’s stock worth $3,759,000 after acquiring an additional 1,537,565 shares during the last quarter. ARK Investment Management LLC grew its stake in ConforMIS by 64.7% in the second quarter. ARK Investment Management LLC now owns 1,158,321 shares of the medical instruments supplier’s stock worth $1,448,000 after purchasing an additional 455,160 shares in the last quarter. Millennium Management LLC grew its stake in ConforMIS by 78.1% in the second quarter. Millennium Management LLC now owns 734,165 shares of the medical instruments supplier’s stock worth $918,000 after purchasing an additional 321,845 shares in the last quarter. Paloma Partners Management Co acquired a new position in ConforMIS in the second quarter worth about $338,000. Finally, Paradigm Capital Management Inc. NY acquired a new position in ConforMIS in the second quarter worth about $296,000. 36.11% of the stock is currently 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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