Titan Medical (TMDI) Earns “Buy” Rating from Northland Securities

Northland Securities restated their buy rating on shares of Titan Medical (NASDAQ:TMDI) in a research note released on Thursday, January 3rd. The brokerage currently has a $6.00 price objective on the stock.

“We just finished a call with Titan management, and highlight the key points discussed on our call. Overall, the company seems on track to file for CE mark by YE19 and begin its IDE study for the U.S. regulatory approval by Q4-19 also. We gleaned some additional details on these filings, which are highlighted below. Key Points U.S. 510k filing The U.S. IDE in anticipation of a 510k filing will begin in Q4-19. The IDE entails a 40-patient study in benign hysterectomy.”,” the firm’s analyst wrote.

Separately, Zacks Investment Research raised shares of Titan Medical from a hold rating to a buy rating and set a $2.25 target price on the stock in a research report on Tuesday, November 20th.

Shares of TMDI stock opened at $2.16 on Thursday. Titan Medical has a 12-month low of $1.05 and a 12-month high of $11.48.

Titan Medical (NASDAQ:TMDI) last issued its quarterly earnings data on Monday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.17. Equities research analysts anticipate that Titan Medical will post -1.48 earnings per share for the current year.

An institutional investor recently bought a new position in Titan Medical stock. Highbridge Capital Management LLC bought a new stake in Titan Medical Inc. (NASDAQ:TMDI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 239,500 shares of the company’s stock, valued at approximately $510,000. Highbridge Capital Management LLC owned approximately 1.71% of Titan Medical as of its most recent filing with the SEC. 15.43% of the stock is owned by hedge funds and other 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.

Featured Article: How to calculate the intrinsic value of a stock

Receive News & Ratings for Titan Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply