Titan Medical Inc. (NASDAQ:TMDI) shares saw an uptick in trading volume on Wednesday . 802,782 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 609,671 shares.The stock last traded at $2.80 and had previously closed at $2.24.
A number of research firms have recently weighed in on TMDI. Northland Securities began coverage on shares of Titan Medical in a research report on Tuesday, September 18th. They issued an “outperform” rating and a $6.00 price objective for the company. Zacks Investment Research upgraded shares of Titan Medical from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Tuesday, November 20th.
Titan Medical (NASDAQ:TMDI) last released its earnings results on Monday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.17. Equities analysts anticipate that Titan Medical Inc. 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) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 239,500 shares of the company’s stock, valued at approximately $510,000. Highbridge Capital Management LLC owned 1.71% of Titan Medical as of its most recent filing with the Securities & Exchange Commission. 15.43% of the stock is owned by institutional investors.
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Titan Medical Company Profile (NASDAQ:TMDI)
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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