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 equities analysts have also recently issued reports on TMDI. Piper Jaffray Companies started coverage on Titan Medical in a report on Wednesday, May 22nd. They issued an overweight rating and a $6.00 target price for the company. ValuEngine raised Titan Medical from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Northland Securities reissued a buy rating on shares of Titan Medical in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Titan Medical presently has an average rating of Buy and an average target price of $5.56.
Titan Medical (NASDAQ:TMDI) last issued its earnings results on Wednesday, July 31st. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.89. As a group, equities analysts forecast that Titan Medical will post -2.32 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Titan Medical stock. Valeo Financial Advisors LLC grew its stake in Titan Medical Inc. (NASDAQ:TMDI) by 4,411.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,117 shares of the company’s stock after buying an additional 44,117 shares during the period. Valeo Financial Advisors LLC owned 0.21% of Titan Medical worth $106,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 13.28% of the company’s stock.
Titan Medical Company Profile
Titan Medical Inc, a research and development stage company, focuses on the design, development, and commercialization of computer-assisted robotic surgical technologies for application in minimally invasive surgery (MIS). The company is developing the 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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