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

Research analysts at StockNews.com initiated coverage on shares of Conformis (NASDAQ:CFMS – Get Free Report) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the medical instruments supplier’s stock.

Separately, Oppenheimer downgraded shares of Conformis from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 9th.

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Conformis Trading Down 0.4 %

NASDAQ:CFMS opened at $2.25 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 5.07 and a quick ratio of 3.30. Conformis has a 1 year low of $1.05 and a 1 year high of $9.40. The company has a market cap of $17.73 million, a P/E ratio of -0.40 and a beta of 1.43. The stock’s fifty day moving average price is $1.94 and its two-hundred day moving average price is $1.72.

Conformis (NASDAQ:CFMS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The medical instruments supplier reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.46). Conformis had a negative net margin of 72.72% and a negative return on equity of 86.46%. The company had revenue of $13.02 million for the quarter, compared to the consensus estimate of $12.68 million. As a group, analysts expect that Conformis will post -5.2 EPS for the current year.

Institutional Investors Weigh In On Conformis

A number of large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. lifted its stake in Conformis by 9.7% in 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 in the last quarter. Millennium Management LLC purchased a new stake in Conformis in the 2nd quarter worth $160,000. Jane Street Group LLC bought a new stake in shares of Conformis in the 2nd quarter worth about $84,000. Renaissance Technologies LLC increased its holdings 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 buying an additional 188,200 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Conformis by 4.2% in the 1st quarter. State Street Corp now owns 3,368,168 shares of the medical instruments supplier’s stock worth $2,101,000 after buying an additional 136,641 shares during the last quarter. Institutional investors own 25.13% of the company’s stock.

About Conformis

(Get Free Report)

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, iTotal CR, and iTotal PS, as well as provides iTotal Identity and Identity Imprint knee replacement products.

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