ConforMIS Inc (CFMS) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on May 13, 2016.
Many Wall Street Analysts have commented on ConforMIS Inc. Shares were Downgraded by JP Morgan on May 13, 2016 to ” Neutral” and Lowered the Price Target to $ 8 from a previous price target of $18 .
On the company’s financial health, ConforMIS Inc reported $-0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 12, 2016. Analyst had a consensus of $-0.40. The company had revenue of $20.30 million for the quarter, compared to analysts expectations of $19.22 million. The company’s revenue was up 38.1% compared to the same quarter last year.
ConforMIS Inc (CFMS) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $11.47 and reached the intraday high at $11.5875. The bulls started the profit booking and pushed the shares to intraday low of $10.91. The trading session was marked by a volume range of 1,67,893 shares exchanging hands. The 52-week high of the shares is $26.93 and the 52-week low is $7.555. The market cap of the company stands at $476 M and there are 4,15,69,337 shares in public circulation.
ConforMIS Inc. is a medical technology company. The Company uses its iFit Image-to-Implant technology platform to develop manufacture and sell joint replacement implants that are individually sized and shaped to fit each patient’s anatomy. It is engaged in offering a line of customized knee implants designed to restore the natural shape of a patient’s knee. The Company has sold over 30000 knee implants in the United States and Europe. It also launched iTotal PS the Companys posterior-stabilized total knee replacement implant which addresses the largest segment of the knee replacement market. The Companys products are available in the United States Germany and the United Kingdom. Its products are offered to orthopedic surgeons hospitals and other medical facilities and patients. The Companys iFit technology platform includes three elements: iFit Design iFit Printing and iFit Just-in-Time Delivery.