Financial

Deutsche Bank Reiterates “Buy” Rating for ConforMIS Inc (CFMS)

ConforMIS Inc (NASDAQ:CFMS)‘s stock had its “buy” rating restated by equities research analysts at Deutsche Bank in a research note issued on Monday, Market Beat.com reports.

A number of institutional investors recently bought and sold shares of CFMS. Simplex Trading bought a new position in ConforMIS during the fourth quarter worth $0. California State Teachers Retirement System boosted its position in ConforMIS by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 19,171 shares of the company’s stock worth $331,000 after buying an additional 271 shares in the last quarter. Morgan Stanley boosted its position in ConforMIS by 48.0% in the fourth quarter. Morgan Stanley now owns 29,026 shares of the company’s stock worth $502,000 after buying an additional 9,416 shares in the last quarter. Wells Fargo & Company MN boosted its position in ConforMIS by 38.7% in the fourth quarter. Wells Fargo & Company MN now owns 501,056 shares of the company’s stock worth $8,663,000 after buying an additional 139,708 shares in the last quarter. Finally, Stanhope Investments bought a new position in ConforMIS during the fourth quarter worth $27,015,000.

Shares of ConforMIS (NASDAQ:CFMS) traded up 6.76% during trading on Monday, hitting $9.16. 388,864 shares of the company’s stock were exchanged. The company has a 50-day moving average of $13.35 and a 200-day moving average of $18.36. The company’s market cap is $372.92 million. ConforMIS has a 12-month low of $8.05 and a 12-month high of $26.93.

Several other research firms also recently commented on CFMS. Zacks Investment Research raised shares of ConforMIS from a “sell” rating to a “hold” rating in a report on Wednesday, November 4th. Oppenheimer reiterated a “buy” rating and issued a $25.00 target price on shares of ConforMIS in a research note on Wednesday, November 11th. Canaccord Genuity reiterated a “buy” rating and issued a $26.00 target price (up from $22.00) on shares of ConforMIS in a research note on Tuesday, December 8th. Finally, Sterne Agee CRT started coverage on shares of ConforMIS in a research note on Tuesday, December 1st. They issued a “buy” rating and a $26.00 target price for the company. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. ConforMIS currently has an average rating of “Buy” and a consensus target price of $25.40.

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.

12 Month Chart for NASDAQ:CFMS

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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