ConforMIS Inc (CFMS) Expected to Announce Quarterly Sales of $19.36 Million

Equities analysts forecast that ConforMIS Inc (NASDAQ:CFMS) will announce sales of $19.36 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for ConforMIS’s earnings, with estimates ranging from $19.29 million to $19.43 million. ConforMIS posted sales of $19.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The company is expected to report its next earnings results on Wednesday, August 7th.

On average, analysts expect that ConforMIS will report full year sales of $82.28 million for the current financial year, with estimates ranging from $82.05 million to $82.51 million. For the next year, analysts expect that the firm will post sales of $89.87 million, with estimates ranging from $89.36 million to $90.37 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow ConforMIS.

ConforMIS (NASDAQ:CFMS) last released its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.12) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.12). The business 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%.

Several analysts recently weighed in on CFMS shares. Zacks Investment Research raised ConforMIS from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Oppenheimer lifted their price target on ConforMIS from $2.50 to $3.50 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, BTIG Research reissued a “buy” rating and set a $3.00 price target on shares of ConforMIS in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $3.00.

NASDAQ:CFMS traded down $0.07 during mid-day trading on Wednesday, hitting $3.37. 539,443 shares of the stock were exchanged, compared to its average volume of 1,339,134. The stock has a market cap of $233.45 million, a P/E ratio of -4.55 and a beta of 3.05. The company has a current ratio of 3.00, a quick ratio of 2.33 and a debt-to-equity ratio of 0.64. ConforMIS has a fifty-two week low of $0.36 and a fifty-two week high of $3.84.

In related news, CFO Paul S. Weiner sold 12,612 shares of ConforMIS stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $2.72, for a total transaction of $34,304.64. Following the completion of the sale, the chief financial officer now directly owns 568,629 shares of the company’s stock, valued at approximately $1,546,670.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark A. Augusti sold 25,477 shares of ConforMIS stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $2.72, for a total value of $69,297.44. Following the sale, the chief executive officer now directly owns 1,123,698 shares of the company’s stock, valued at $3,056,458.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,801 shares of company stock valued at $222,106. 3.38% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in ConforMIS during the 1st quarter worth about $193,000. Schonfeld Strategic Advisors LLC acquired a new position in ConforMIS during the 1st quarter worth about $812,000. Morgan Stanley lifted its holdings in ConforMIS by 197.3% during the 1st quarter. Morgan Stanley now owns 20,079 shares of the medical instruments supplier’s stock worth $58,000 after buying an additional 13,325 shares during the period. Oxford Asset Management LLP acquired a new position in ConforMIS during the 1st quarter worth about $2,089,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in ConforMIS during the 1st quarter worth about $113,000. Hedge funds and other institutional investors own 30.35% of the company’s stock.

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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