ConforMIS Gets a Buy Rating from Oppenheimer

By Ryan Adsit

Oppenheimer analyst Steven Lichtman reiterated a Buy rating on ConforMIS (NASDAQ: CFMS) today. The company’s shares opened today at $4.55, close to its 52-week low of $3.89.

According to TipRanks.com, Lichtman is ranked 0 out of 5 stars with an average return of -3.9% and a 55.7% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Integra Lifesciences.

ConforMIS has an analyst consensus of Moderate Buy, with a price target consensus of $8.

Based on ConforMIS’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $20.46 million and GAAP net loss of $17.16 million. In comparison, last year the company earned revenue of $20.25 million and had a GAAP net loss of $15.03 million.

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ConforMIS, Inc. is a holding company, which engages in developing and commercializing medical devices for the treatment of osteoarthritis and joint damage. It also offers a line of customized knee implants designed to restore the natural shape of a patient’s knee. The company was founded Philipp Lang in 2004 and is headquartered in Bedford, MA.