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.

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Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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