Shares of ConforMIS Inc (NASDAQ:CFMS) were up 6.4% during mid-day trading on Tuesday . The company traded as high as $1.88 and last traded at $1.84, approximately 836,080 shares were traded during trading. A decline of 40% from the average daily volume of 1,401,355 shares. The stock had previously closed at $1.73.

A number of equities research analysts have recently issued reports on CFMS shares. Zacks Investment Research downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. BTIG Research downgraded shares of ConforMIS from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. ValuEngine downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. BidaskClub downgraded shares of ConforMIS from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, Oppenheimer set a $4.00 price objective on shares of ConforMIS and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.10.

The stock has a market capitalization of $118.47 million, a P/E ratio of -2.49 and a beta of 2.28. The company has a current ratio of 3.48, a quick ratio of 2.64 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $2.99.

ConforMIS (NASDAQ:CFMS) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $19.59 million during the quarter, compared to the consensus estimate of $19.36 million. ConforMIS had a negative net margin of 34.68% and a negative return on equity of 92.18%. On average, equities analysts forecast that ConforMIS Inc will post -0.41 earnings per share for the current fiscal year.

In related news, major shareholder Archon Capital Management Llc sold 613,594 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $3.00, for a total value of $1,840,782.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark A. Augusti sold 23,860 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $4.15, for a total transaction of $99,019.00. Following the completion of the transaction, the chief executive officer now directly owns 1,093,031 shares of the company’s stock, valued at approximately $4,536,078.65. The disclosure for this sale can be found here. Insiders sold a total of 1,263,408 shares of company stock valued at $4,186,481 in the last ninety days. 3.38% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFMS. Bank of Montreal Can bought a new position in shares of ConforMIS during the 2nd quarter valued at about $27,000. Steward Partners Investment Advisory LLC bought a new position in shares of ConforMIS during the 2nd quarter valued at about $44,000. GSA Capital Partners LLP bought a new position in shares of ConforMIS during the 2nd quarter valued at about $59,000. Cornerstone Advisory LLC bought a new position in shares of ConforMIS during the 1st quarter valued at about $72,000. Finally, JPMorgan Chase & Co. bought a new position in shares of ConforMIS during the 2nd quarter valued at about $73,000. 34.25% of the stock is owned by institutional investors and hedge funds.

About ConforMIS (NASDAQ:CFMS)

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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