Zacks: Brokerages Anticipate ConforMIS Inc (CFMS) to Announce -$0.16 EPS

Analysts expect ConforMIS Inc (NASDAQ:CFMS) to announce earnings of ($0.16) per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for ConforMIS’s earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.14). ConforMIS reported earnings per share of ($0.27) during the same quarter last year, which would suggest a positive year over year growth rate of 40.7%. The business is scheduled to issue its next earnings results on Wednesday, February 6th.

On average, analysts expect that ConforMIS will report full-year earnings of ($0.82) per share for the current fiscal year, with EPS estimates ranging from ($0.85) to ($0.79). For the next financial year, analysts anticipate that the company will report earnings of ($0.50) per share, with EPS estimates ranging from ($0.54) to ($0.44). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for ConforMIS.

ConforMIS (NASDAQ:CFMS) last released its earnings results on Wednesday, October 31st. The medical instruments supplier reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08. ConforMIS had a negative net margin of 51.25% and a negative return on equity of 90.97%. The business had revenue of $28.98 million during the quarter, compared to analyst estimates of $19.21 million.

CFMS has been the subject of a number of research reports. Zacks Investment Research raised shares of ConforMIS from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a report on Wednesday, July 18th. BTIG Research reaffirmed a “buy” rating and set a $3.00 target price on shares of ConforMIS in a report on Thursday, August 2nd. Oppenheimer set a $4.00 target price on shares of ConforMIS and gave the stock a “buy” rating in a report on Thursday, August 2nd. Canaccord Genuity dropped their target price on shares of ConforMIS from $3.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, Cowen reaffirmed a “buy” rating and set a $3.00 target price on shares of ConforMIS in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. ConforMIS currently has a consensus rating of “Buy” and a consensus price target of $2.45.

Shares of ConforMIS stock traded up $0.02 during trading hours on Friday, reaching $0.54. 424,810 shares of the company’s stock were exchanged, compared to its average volume of 453,184. ConforMIS has a 1 year low of $0.52 and a 1 year high of $3.35. The firm has a market capitalization of $35.88 million, a price-to-earnings ratio of -0.43 and a beta of 1.23. The company has a quick ratio of 4.91, a current ratio of 5.71 and a debt-to-equity ratio of 0.68.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of ConforMIS by 79.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 91,356 shares of the medical instruments supplier’s stock valued at $132,000 after acquiring an additional 40,563 shares during the last quarter. BlackRock Inc. boosted its position in shares of ConforMIS by 2.6% during the 1st quarter. BlackRock Inc. now owns 2,398,722 shares of the medical instruments supplier’s stock valued at $3,478,000 after acquiring an additional 61,539 shares during the last quarter. Spark Investment Management LLC boosted its position in shares of ConforMIS by 60.5% during the 2nd quarter. Spark Investment Management LLC now owns 193,989 shares of the medical instruments supplier’s stock valued at $242,000 after acquiring an additional 73,089 shares during the last quarter. Northern Trust Corp boosted its position in shares of ConforMIS by 20.2% during the 1st quarter. Northern Trust Corp now owns 538,985 shares of the medical instruments supplier’s stock valued at $782,000 after acquiring an additional 90,447 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of ConforMIS during the 2nd quarter valued at about $131,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

ConforMIS Company Profile

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.

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Earnings History and Estimates for ConforMIS (NASDAQ:CFMS)

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