Shares of ConforMIS Inc (NASDAQ:CFMS) dropped 10.4% on Monday after an insider sold shares in the company. The stock traded as low as $2.64 and last traded at $2.76, approximately 2,486,466 shares changed hands during trading. An increase of 79% from the average daily volume of 1,386,594 shares. The stock had previously closed at $3.08.
Specifically, Director Bradley Langdale sold 20,542 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $2.88, for a total value of $59,160.96. Following the sale, the director now directly owns 115,484 shares in the company, valued at $332,593.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Archon Capital Management Llc sold 279,293 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $3.77, for a total value of $1,052,934.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,317,864 shares of company stock worth $4,348,455. Corporate insiders own 3.38% of the company’s stock.
CFMS has been the topic of several research reports. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. BidaskClub lowered Xperi from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 19th. Oppenheimer reduced their price target on Littelfuse from $215.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. BTIG Research lifted their price target on Yum! Brands to $114.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $3.40.
The company has a market cap of $209.01 million, a P/E ratio of -3.73 and a beta of 2.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.00 and a quick ratio of 2.33. The company’s 50-day simple moving average is $3.98.
ConforMIS (NASDAQ:CFMS) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.12) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The company had revenue of $20.64 million during the quarter, compared to analysts’ expectations of $20.11 million. ConforMIS had a negative return on equity of 97.85% and a negative net margin of 42.90%. Sell-side analysts forecast that ConforMIS Inc will post -0.43 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in CFMS. Tibra Equities Europe Ltd purchased a new position in shares of ConforMIS in the first quarter valued at $381,000. Larson Financial Group LLC grew its position in shares of ConforMIS by 588.6% in the first quarter. Larson Financial Group LLC now owns 24,100 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 20,600 shares in the last quarter. CAPROCK Group Inc. grew its position in shares of ConforMIS by 300.0% in the first quarter. CAPROCK Group Inc. now owns 80,000 shares of the medical instruments supplier’s stock valued at $230,000 after purchasing an additional 60,000 shares in the last quarter. Creative Planning grew its position in shares of ConforMIS by 133.8% in the first quarter. Creative Planning now owns 116,922 shares of the medical instruments supplier’s stock valued at $337,000 after purchasing an additional 66,922 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC purchased a new position in ConforMIS during the first quarter worth about $45,100,000. Institutional investors own 34.11% of the company’s stock.
About ConforMIS (NASDAQ:CFMS)
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.
