Analysts Anticipate ConforMIS Inc (CFMS) to Post -$0.12 EPS

Analysts predict that ConforMIS Inc (NASDAQ:CFMS) will announce earnings of ($0.12) per share for the current quarter, according to Zacks. Three analysts have made estimates for ConforMIS’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.13). ConforMIS posted earnings per share of ($0.24) in the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is scheduled to announce its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that ConforMIS will report full year earnings of ($0.43) per share for the current year, with EPS estimates ranging from ($0.45) to ($0.39). For the next financial year, analysts expect that the business will report earnings of ($0.31) per share, with EPS estimates ranging from ($0.37) to ($0.25). Zacks’ EPS calculations are an average based on a survey of research analysts that follow ConforMIS.

ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.12) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.12). ConforMIS had a negative return on equity of 97.85% and a negative net margin of 42.90%. The firm had revenue of $20.64 million for the quarter, compared to analyst estimates of $20.11 million.

Several equities analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and issued a $3.00 price target on shares of ConforMIS in a research note on Thursday, May 2nd. Zacks Investment Research downgraded ConforMIS from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, Oppenheimer set a $4.00 price objective on ConforMIS and gave the company a “buy” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. ConforMIS presently has a consensus rating of “Buy” and an average target price of $3.00.

Shares of CFMS traded down $0.08 during midday trading on Monday, hitting $3.46. The company’s stock had a trading volume of 13,854 shares, compared to its average volume of 1,361,422. ConforMIS has a one year low of $0.36 and a one year high of $3.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.33 and a current ratio of 3.00. The firm has a market cap of $230.06 million, a price-to-earnings ratio of -4.69 and a beta of 3.05.

In related news, CEO Mark A. Augusti sold 25,477 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $2.72, for a total transaction of $69,297.44. Following the sale, the chief executive officer now owns 1,123,698 shares of the company’s stock, valued at approximately $3,056,458.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Paul S. Weiner sold 12,612 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $2.72, for a total value of $34,304.64. Following the sale, the chief financial officer now directly owns 568,629 shares in the company, valued at approximately $1,546,670.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,691 shares of company stock worth $186,418. 3.38% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in ConforMIS by 10.0% during the third quarter. Renaissance Technologies LLC now owns 3,306,461 shares of the medical instruments supplier’s stock worth $3,505,000 after purchasing an additional 299,561 shares during the last quarter. Vanguard Group Inc lifted its position in shares of ConforMIS by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 2,230,254 shares of the medical instruments supplier’s stock worth $2,364,000 after buying an additional 28,556 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of ConforMIS by 76.2% during the 4th quarter. Gabelli Funds LLC now owns 104,056 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 45,000 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of ConforMIS by 26.0% during the 4th quarter. Acadian Asset Management LLC now owns 127,166 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 26,202 shares during the last quarter. Finally, Tibra Equities Europe Ltd purchased a new stake in shares of ConforMIS during the 1st quarter worth approximately $381,000. 30.35% of the stock is currently owned by hedge funds and other institutional investors.

About ConforMIS

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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