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ConforMIS (CFMS) Stock Plunges 50% After Slashing Outlook

NEW YORK (TheStreet) -- Shares of ConforMIS (CFMS) are tanking by 50.34% to $5.02 on heavy trading volume on Friday afternoon, after the medical device company slashed its 2016 forecast and initiated a search for a new CEO.

After yesterday's closing bell, the Bedford, MA-based company said it now sees revenue between $76 million and $81 million for 2016, lower than its previous guidance of $84 million to $87 million.

Analysts are forecasting revenue of $85.8 million for the full year.

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