Titan Medical (TMDI) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Titan Medical (NASDAQ:TMDI) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Titan Medical Inc. is focused on the design and development of a robotic surgical system for application in minimally invasive surgery. The Company’s SPORT Surgical System includes a surgeon-controlled robotic platform which incorporates a 3D high-definition vision system and multi-articulating instruments for performing MIS procedures through a single incision. The surgical system also includes a surgeon workstation which provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and viewing the inside of a patient’s body in 3D during MIS procedures. Titan Medical Inc. is based in ON, Canada. “

A number of other analysts have also recently weighed in on TMDI. Northland Securities reissued a buy rating and set a $6.00 target price on shares of Titan Medical in a report on Thursday, January 3rd. Maxim Group reissued a buy rating and set a $8.00 target price on shares of Titan Medical in a report on Thursday, February 14th.

Shares of NASDAQ:TMDI opened at $3.00 on Tuesday. The firm has a market cap of $64.81 million and a price-to-earnings ratio of -2.21. Titan Medical has a 1-year low of $1.05 and a 1-year high of $7.75.

Titan Medical (NASDAQ:TMDI) last issued its earnings results on Wednesday, February 13th. The company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.24. Sell-side analysts anticipate that Titan Medical will post -2.89 EPS for the current fiscal year.

Several large investors have recently modified their holdings of TMDI. Valeo Financial Advisors LLC raised its holdings in shares of Titan Medical by 2,000.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 21,000 shares of the company’s stock worth $26,000 after purchasing an additional 20,000 shares during the period. Pathlight Investors LLC acquired a new stake in shares of Titan Medical in the 4th quarter worth about $39,000. Highbridge Capital Management LLC acquired a new stake in shares of Titan Medical in the 3rd quarter worth about $510,000. Finally, Sio Capital Management LLC acquired a new stake in shares of Titan Medical in the 3rd quarter worth about $949,000. 9.38% of the stock is currently owned by institutional investors.

Titan Medical Company Profile

Titan Medical Inc, a development stage company, focuses on design and development of robotic surgical system for application in minimally invasive surgery (MIS). The company is developing SPORT Surgical System, a single-port robotic surgical system that comprises a surgeon-controlled patient cart, which includes a 3D vision system and multi-articulating instruments for performing MIS procedures; and a surgeon workstation that provides the surgeon with ergonomic interface to the patient cart and a 3D endoscopic view inside the patient's body during MIS procedures.

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