Zacks: Brokerages Expect ConforMIS Inc (CFMS) Will Announce Quarterly Sales of $18.4 Million

Analysts expect ConforMIS Inc (NASDAQ:CFMS) to post $18.4 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for ConforMIS’s earnings, with estimates ranging from $17.63 million to $19.55 million. ConforMIS reported sales of $20.25 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.1%. The business is scheduled to report its next earnings results on Thursday, May 11th.

On average, analysts expect that ConforMIS will report full year sales of $18.4 million for the current financial year, with estimates ranging from $80.28 million to $86.05 million. For the next financial year, analysts expect that the firm will report sales of $95.48 million per share, with estimates ranging from $90.29 million to $101.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover ConforMIS.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings data on Wednesday, February 15th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.30) by $0.07. The firm earned $21.70 million during the quarter, compared to the consensus estimate of $21.37 million. ConforMIS had a negative net margin of 73.53% and a negative return on equity of 46.41%.

Several brokerages have issued reports on CFMS. Zacks Investment Research upgraded ConforMIS from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a report on Thursday, February 16th. B. Riley reiterated a “buy” rating and set a $7.50 price target on shares of ConforMIS in a report on Thursday, February 16th. Finally, Canaccord Genuity cut ConforMIS from a “buy” rating to a “hold” rating and lowered their price target for the stock from $12.00 to $7.00 in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $10.61.

In related news, Director Philipp Lang sold 9,681 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $8.60, for a total transaction of $83,256.60. Following the transaction, the director now owns 519,784 shares of the company’s stock, valued at approximately $4,470,142.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David Cerveny sold 3,569 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $8.59, for a total value of $30,657.71. Following the transaction, the insider now directly owns 87,501 shares in the company, valued at approximately $751,633.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 413,859 shares of company stock worth $3,540,670. 9.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the company. Papp L Roy & Associates purchased a new position in ConforMIS during the third quarter valued at about $106,000. Numeric Investors LLC bought a new stake in ConforMIS during the fourth quarter worth about $159,000. Trent Capital Management Inc. NC bought a new stake in ConforMIS during the fourth quarter worth about $177,000. A.R.T. Advisors LLC bought a new stake in ConforMIS during the fourth quarter worth about $178,000. Finally, Creative Planning bought a new stake in ConforMIS during the first quarter worth about $236,000. 39.63% of the stock is currently owned by hedge funds and other institutional investors.

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ConforMIS (NASDAQ:CFMS) traded up 0.39% during trading on Friday, reaching $5.14. The company’s stock had a trading volume of 142,362 shares. ConforMIS has a 1-year low of $4.35 and a 1-year high of $13.83. The stock’s market capitalization is $225.23 million. The stock has a 50 day moving average price of $5.08 and a 200 day moving average price of $7.74.

About ConforMIS

ConforMIS, Inc is a medical technology company that uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants. The Company’s products include iTotal CR, which is the cruciate-retaining, customized total knee replacement system to restore the natural shape of a patient’s knee; iTotal PS, which is the posterior cruciate ligament substituting, or posterior-stabilized, customized total knee replacement product to restore the natural shape of a patient’s knee; iDuo, which is the customized bicompartmental knee replacement system, and iUni, which is the customized unicompartmental knee replacement product for treatment of the medial or lateral compartment of the knee.

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