Trade Report: Today, Bank of Montreal Can Takes Position in ConforMIS Inc. (CFMS)

Today, Bank of Montreal Can Takes Position in ConforMIS Inc. (CFMS)

Bank of Montreal Can purchased a new stake in ConforMIS Inc. (NASDAQ:CFMS) during the third quarter, according to its most recent filing with the SEC. The firm purchased 31,419 shares of the company’s stock, valued at approximately $312,000. Bank of Montreal Can owned approximately 0.07% of ConforMIS at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CFMS. Vanguard Group Inc. raised its stake in shares of ConforMIS by 31.2% in the second quarter. Vanguard Group Inc. now owns 1,866,848 shares of the company’s stock valued at $13,105,000 after buying an additional 444,327 shares in the last quarter. Redmile Group LLC raised its stake in shares of ConforMIS by 32.2% in the second quarter. Redmile Group LLC now owns 1,047,821 shares of the company’s stock valued at $7,356,000 after buying an additional 255,466 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of ConforMIS by 242.4% in the second quarter. BlackRock Fund Advisors now owns 931,053 shares of the company’s stock valued at $6,536,000 after buying an additional 659,159 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of ConforMIS by 75.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 478,194 shares of the company’s stock valued at $3,357,000 after buying an additional 205,855 shares in the last quarter. Finally, State Street Corp raised its stake in shares of ConforMIS by 238.4% in the second quarter. State Street Corp now owns 458,834 shares of the company’s stock valued at $3,221,000 after buying an additional 323,234 shares in the last quarter. Hedge funds and other institutional investors own 43.02% of the company’s stock.

Shares of ConforMIS Inc. (NASDAQ:CFMS) traded up 1.54% on Friday, reaching $9.23. 73,505 shares of the company’s stock traded hands. ConforMIS Inc. has a 52 week low of $4.80 and a 52 week high of $22.60. The stock’s market capitalization is $395.81 million. The company has a 50 day moving average of $8.82 and a 200-day moving average of $8.10.

ConforMIS (NASDAQ:CFMS) last announced its earnings results on Thursday, November 3rd. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. The business earned $18.60 million during the quarter, compared to the consensus estimate of $18.27 million. ConforMIS had a negative net margin of 73.53% and a negative return on equity of 46.41%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) earnings per share. Equities research analysts forecast that ConforMIS Inc. will post ($1.31) earnings per share for the current year.

Several brokerages have issued reports on CFMS. B. Riley reissued a “buy” rating and set a $13.00 price objective on shares of ConforMIS in a research report on Friday, November 4th. JPMorgan Chase & Co. reissued a “hold” rating and set a $11.00 price objective on shares of ConforMIS in a research report on Friday, November 4th. Oppenheimer Holdings Inc. raised their price objective on shares of ConforMIS from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised shares of ConforMIS from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Tuesday, November 8th. Finally, SunTrust Banks Inc. began coverage on shares of ConforMIS in a research report on Monday, September 19th. They set a “buy” rating and a $14.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.56.

In related news, CEO Philipp Lang sold 10,410 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $10.03, for a total value of $104,412.30. Following the sale, the chief executive officer now directly owns 483,378 shares of the company’s stock, valued at $4,848,281.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Steines sold 30,000 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $9.09, for a total transaction of $272,700.00. Following the completion of the sale, the insider now directly owns 245,213 shares in the company, valued at $2,228,986.17. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by insiders.

ConforMIS Company Profile

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.

Related posts

Leave a Comment