Paradigm Capital Management Inc. NY Takes $296,000 Position in ConforMIS Inc (CFMS)

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Paradigm Capital Management Inc. NY purchased a new stake in shares of ConforMIS Inc (NASDAQ:CFMS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 236,885 shares of the medical instruments supplier’s stock, valued at approximately $296,000.

A number of other institutional investors have also recently made changes to their positions in CFMS. Two Sigma Investments LP bought a new stake in shares of ConforMIS in the 4th quarter valued at approximately $130,000. Dimensional Fund Advisors LP lifted its stake in shares of ConforMIS by 79.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 91,356 shares of the medical instruments supplier’s stock valued at $132,000 after purchasing an additional 40,563 shares during the last quarter. LMR Partners LLP bought a new stake in shares of ConforMIS in the 2nd quarter valued at approximately $167,000. Allianz Asset Management GmbH bought a new stake in shares of ConforMIS in the 1st quarter valued at approximately $183,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of ConforMIS by 93.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 140,943 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 68,000 shares during the last quarter. 42.60% of the stock is owned by institutional investors.

Shares of CFMS stock opened at $0.91 on Friday. ConforMIS Inc has a 52-week low of $0.88 and a 52-week high of $4.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.77 and a quick ratio of 4.15. The company has a market cap of $61.28 million, a P/E ratio of -0.73 and a beta of 0.90.

ConforMIS (NASDAQ:CFMS) last issued its quarterly earnings results on Friday, August 3rd. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03). ConforMIS had a negative return on equity of 94.69% and a negative net margin of 64.66%. The business had revenue of $19.10 million for the quarter, compared to the consensus estimate of $19.52 million. research analysts expect that ConforMIS Inc will post -0.83 EPS for the current year.

Several research firms have recently issued reports on CFMS. Zacks Investment Research lowered ConforMIS from a “buy” rating to a “hold” rating in a research note on Monday, June 25th. Oppenheimer set a $4.00 price objective on ConforMIS and gave the company a “buy” rating in a research note on Thursday, August 2nd. BTIG Research reissued a “buy” rating and set a $3.00 price target on shares of ConforMIS in a research note on Thursday, August 2nd. ValuEngine raised ConforMIS from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, SunTrust Banks reissued a “buy” rating on shares of ConforMIS in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $3.25.

About ConforMIS

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.

Further Reading: Closed-End Mutual Funds (CEFs)

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Institutional Ownership by Quarter for ConforMIS (NASDAQ:CFMS)

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