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Actionable news in CFMS: CONFORMIS Inc COMMON STOCK,

Here's Why ConforMIS (CFMS) Stock is Tanking Today

NEW YORK (TheStreet) -- Shares of ConforMIS (CFMS) are plunging by 49.65% to $5.09 on heavy trading volume on Friday morning, after the medical device company cut its 2016 outlook and began the search for a new CEO.

After yesterday's market close, the Bedford, MA-based company said it now forecasts revenue between $76 million and $81 million for 2016, down from its previous guidance of $84 million to $87 million.

Analysts are looking for revenue of $85.8...