BTIG analyst Ryan Zimmerman downgraded Conformis to Neutral from Buy after its Q2 results, saying that while the stock price pulled back from recent highs, he still expected to see some improvement in fundamentals. However, the quarter was highlighted by an increase in "blanket denials" by Aetna for the company's products, which started to magnify late in Q2 should persist through the end of 2019, the analyst writes. Zimmerman added that even if the "confusion" about patient-specific recommendations is cleared, it will take time to "win back" participating doctors.