ConforMIS Gets a Buy Rating from BTIG

By Jason Carr

In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on ConforMIS (NASDAQ: CFMS), with a price target of $3. The company’s shares closed yesterday at $1.35, close to its 52-week low of $1.15.

According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 36.0% and a 60.0% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, OrthoPediatrics Corp, and SeaSpine Holdings.

ConforMIS has an analyst consensus of Strong Buy, with a price target consensus of $3.50.

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Based on ConforMIS’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $20.75 million and GAAP net loss of $11.86 million. In comparison, last year the company earned revenue of $20.46 million and had a GAAP net loss of $17.16 million.

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ConforMIS, Inc. is a holding company, which engages in the development, manufacture, and sale of joint replacement implants. Its products include iTotal, iUni and iDuo, and iJig Instrumentation. The company was founded Philipp Lang in 2004 and is headquartered in Bedford, MA.