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

StockNews.com assumed coverage on shares of Conformis (NASDAQ:CFMSGet Rating) in a report released 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 report on Wednesday, May 4th.

NASDAQ CFMS opened at $0.40 on Friday. Conformis has a 1-year low of $0.29 and a 1-year high of $1.96. The company has a market capitalization of $74.99 million, a P/E ratio of -10.11 and a beta of 1.42. The business has a 50 day moving average price of $0.56 and a 200 day moving average price of $0.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.84 and a quick ratio of 5.87.

Conformis (NASDAQ:CFMSGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company posted ($0.09) EPS. On average, research analysts expect that Conformis will post -0.31 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Wasatch Advisors Inc. grew its position in shares of Conformis by 9.7% in the first quarter. Wasatch Advisors Inc. now owns 20,030,298 shares of the medical instruments supplier’s stock valued at $12,495,000 after purchasing an additional 1,778,054 shares during the period. Stonepine Capital Management LLC grew its position in shares of Conformis by 2,932.7% in the fourth quarter. Stonepine Capital Management LLC now owns 14,768,823 shares of the medical instruments supplier’s stock valued at $11,245,000 after purchasing an additional 14,281,841 shares during the period. ARK Investment Management LLC grew its position in shares of Conformis by 2.8% in the first quarter. ARK Investment Management LLC now owns 13,033,628 shares of the medical instruments supplier’s stock valued at $8,130,000 after purchasing an additional 352,228 shares during the period. Renaissance Technologies LLC grew its position in shares of Conformis by 5.1% in the fourth quarter. Renaissance Technologies LLC now owns 6,038,901 shares of the medical instruments supplier’s stock valued at $4,598,000 after purchasing an additional 294,813 shares during the period. Finally, Velan Capital Investment Management LP grew its position in shares of Conformis by 11.5% in the first quarter. Velan Capital Investment Management LP now owns 4,644,507 shares of the medical instruments supplier’s stock valued at $2,897,000 after purchasing an additional 477,900 shares during the period. 51.01% of the stock is owned by institutional investors and hedge funds.

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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