ConforMIS Inc (CFMS) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $-0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.36. The company posted revenue of $19.30 million in the period, compared to analysts expectations of $18.03 million. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-2.51 EPS.
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 .ConforMIS Inc was Downgraded by Wells Fargo to ” Market Perform” on May 13, 2016. Shares were Reiterated by Deutsche Bank on May 13, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $26 .
ConforMIS Inc opened for trading at $7.25 and hit $7.62 on the upside on Friday, eventually ending the session at $7.35, with a gain of 1.24% or 0.09 points. The heightened volatility saw the trading volume jump to 3,19,122 shares. Company has a market cap of $307 M.
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.