Conformis Inc. [CFMS] moved up 6.12: Why It’s Important

Conformis Inc. [NASDAQ: CFMS] gained 6.12% or 0.05 points to close at $0.86 with a heavy trading volume of 1813409 shares. The company report on April 23, 2021 that Conformis Announces Achievement of Third Milestone Under Development and License Agreements.

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Conformis, Inc. (NASDAQ:CFMS) announced that it received 510(k) clearance by the U.S. Food and Drug Administration for patient-specific instrumentation (“PSI”) developed by the Company under its License Agreement and Development Agreement with Howmedica Osteonics Corp., a wholly owned subsidiary of Stryker Corporation also known as Stryker Orthopaedics. With the clearance of this PSI system, which is designed for use with Stryker’s Triathlon® Total Knee System, the Company has achieved the third of three milestones under the agreements and will receive $11.0 million from Stryker.

“With the recent FDA clearance, we are pleased to have attained the last milestone of our project and to report the successful conclusion of our joint development agreement with Stryker,” said Mark Augusti, President and Chief Executive Officer. “Despite the global challenges of the last 12 months, the dedication of our project and support teams has enabled us to achieve this major milestone on schedule. We now will turn our efforts to focusing on our long-term distribution agreement, under which Conformis will manufacture and supply PSI to Stryker. We continue to believe this initiative will create shareholder value as we satisfy the increasing demand for efficient outpatient ambulatory surgery center joint replacement.”.

It opened the trading session at $0.835, the shares rose to $0.8866 and dropped to $0.8105, the range by which the price of stock traded the whole day. The daily chart for CFMS points out that the company has recorded 9.47% gains over the past six months. However, it is still -43.33% lower than its most recent low trading price.

If we look at the average trading volume of 5.41M shares, CFMS reached to a volume of 1813409 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Conformis Inc. [CFMS]:

BTIG Research have made an estimate for Conformis Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 01, 2019. The new note on the price target was released on January 02, 2018, representing the official price target for Conformis Inc. stock. On August 04, 2017, analysts decreased their price target for CFMS shares from 6 to 5.

The Average True Range (ATR) for Conformis Inc. is set at 0.07, with the Price to Sales ratio for CFMS stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 5.73, with the Price to Cash per share for the same quarter was set at 0.16.

Trading performance analysis for CFMS stock

Conformis Inc. [CFMS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.74. With this latest performance, CFMS shares dropped by -20.37% in over the last four-week period, additionally plugging by 9.47% over the last 6 months – not to mention a rise of 26.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CFMS stock in for the last two-week period is set at 41.99, with the RSI for the last a single of trading hit 44.25, and the three-weeks RSI is set at 43.20 for Conformis Inc. [CFMS]. The present Moving Average for the last 50 days of trading for this stock 1.0130, while it was recorded at 0.8319 for the last single week of trading, and 0.8440 for the last 200 days.

Conformis Inc. [CFMS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Conformis Inc. [CFMS] shares currently have an operating margin of -36.52 and a Gross Margin at +49.03. Conformis Inc.’s Net Margin is presently recorded at -35.33.

Return on Total Capital for CFMS is now -59.84, given the latest momentum, and Return on Invested Capital for the company is -60.10. Return on Equity for this stock declined to -175.28, with Return on Assets sitting at -33.76. When it comes to the capital structure of this company, Conformis Inc. [CFMS] has a Total Debt to Total Equity ratio set at 264.28. Additionally, CFMS Total Debt to Total Capital is recorded at 72.55, with Total Debt to Total Assets ending up at 42.03. Long-Term Debt to Equity for the company is recorded at 250.04, with the Long-Term Debt to Total Capital now at 68.64.

Reflecting on the efficiency of the workforce at the company, Conformis Inc. [CFMS] managed to generate an average of -$93,795 per employee. Receivables Turnover for the company is 6.55 with a Total Asset Turnover recorded at a value of 0.96.Conformis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.70.

Conformis Inc. [CFMS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Conformis Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CFMS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Conformis Inc. go to -14.58%.

An analysis of insider ownership at Conformis Inc. [CFMS]

There are presently around $16 million, or 15.80% of CFMS stock, in the hands of institutional investors. The top three institutional holders of CFMS stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 5,882,971, which is approximately 12.828% of the company’s market cap and around 1.60% of the total institutional ownership; ARCHON CAPITAL MANAGEMENT LLC, holding 3,859,863 shares of the stock with an approximate value of $3.32 million in CFMS stocks shares; and VANGUARD GROUP INC, currently with $2.73 million in CFMS stock with ownership of nearly 3.845% of the company’s market capitalization.

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Positions in Conformis Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 19 institutional holders increased their position in Conformis Inc. [NASDAQ:CFMS] by around 1,564,447 shares. Additionally, 20 investors decreased positions by around 8,643,106 shares, while 24 investors held positions by with 8,968,600 shares. The mentioned changes placed institutional holdings at 19,176,153 shares, according to the latest SEC report filing. CFMS stock had 5 new institutional investments in for a total of 323,316 shares, while 9 institutional investors sold positions of 7,768,299 shares during the same period.

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