Brokerages expect that ConforMIS Inc (NASDAQ:CFMS) will post earnings of ($0.11) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for ConforMIS’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.12). ConforMIS reported earnings of ($0.12) per share during the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, October 30th.
According to Zacks, analysts expect that ConforMIS will report full-year earnings of ($0.41) per share for the current financial year, with EPS estimates ranging from ($0.46) to ($0.39). For the next year, analysts expect that the firm will report earnings of ($0.33) per share, with EPS estimates ranging from ($0.36) to ($0.30). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover ConforMIS.
ConforMIS (NASDAQ:CFMS) last posted its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. ConforMIS had a negative net margin of 34.68% and a negative return on equity of 92.18%. The firm had revenue of $19.59 million for the quarter, compared to analysts’ expectations of $19.36 million.
CFMS has been the topic of a number of recent analyst reports. BTIG Research cut shares of ConforMIS from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. ValuEngine downgraded shares of ConforMIS from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, BidaskClub downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.10.
NASDAQ:CFMS opened at $2.15 on Tuesday. The company’s 50 day moving average price is $2.17 and its 200-day moving average price is $2.72. ConforMIS has a 52 week low of $0.36 and a 52 week high of $4.83. The company has a current ratio of 3.48, a quick ratio of 2.64 and a debt-to-equity ratio of 0.92.
In other ConforMIS news, CFO Paul S. Weiner sold 10,764 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $4.15, for a total value of $44,670.60. Following the sale, the chief financial officer now owns 554,562 shares of the company’s stock, valued at approximately $2,301,432.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Archon Capital Management Llc sold 613,594 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $3.00, for a total value of $1,840,782.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,253,298 shares of company stock worth $4,150,793. Company insiders own 3.38% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can bought a new position in shares of ConforMIS during the 2nd quarter worth approximately $27,000. Steward Partners Investment Advisory LLC acquired a new stake in ConforMIS in the 2nd quarter valued at $44,000. Private Advisor Group LLC acquired a new stake in ConforMIS in the 2nd quarter valued at $52,000. GSA Capital Partners LLP acquired a new stake in ConforMIS in the 2nd quarter valued at $59,000. Finally, Weiss Asset Management LP acquired a new stake in ConforMIS in the 2nd quarter valued at $71,000. 40.95% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also: How Does the Quiet Period Work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ConforMIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConforMIS and related companies with MarketBeat.com's FREE daily email newsletter.