Zacks: Brokerages Expect Titan Medical Inc. (NASDAQ:TMDI) Will Announce Earnings of -$0.61 Per Share

Wall Street brokerages forecast that Titan Medical Inc. (NASDAQ:TMDI) will post earnings per share of ($0.61) for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Titan Medical’s earnings, with the highest EPS estimate coming in at ($0.49) and the lowest estimate coming in at ($0.72). Titan Medical reported earnings per share of ($0.41) in the same quarter last year, which would indicate a negative year over year growth rate of 48.8%. The company is expected to announce its next quarterly earnings report on Monday, November 11th.

According to Zacks, analysts expect that Titan Medical will report full-year earnings of ($2.32) per share for the current year, with EPS estimates ranging from ($2.89) to ($1.75). For the next year, analysts expect that the business will post earnings of ($1.25) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Titan Medical.

Titan Medical (NASDAQ:TMDI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.89.

A number of equities analysts recently weighed in on TMDI shares. ValuEngine upgraded shares of Titan Medical from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Titan Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Piper Jaffray Companies started coverage on shares of Titan Medical in a research report on Wednesday, May 22nd. They issued an “overweight” rating and a $6.00 price objective on the stock. Finally, Northland Securities reiterated a “buy” rating on shares of Titan Medical in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $5.56.

NASDAQ:TMDI traded up $0.04 during midday trading on Monday, reaching $2.10. The stock had a trading volume of 200 shares, compared to its average volume of 201,904. The firm has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $2.53. Titan Medical has a 12-month low of $1.05 and a 12-month high of $4.65. The stock has a market cap of $44.43 million, a P/E ratio of -1.54 and a beta of 5.00.

An institutional investor recently raised its position in Titan Medical stock. Morgan Stanley grew its stake in shares of Titan Medical Inc. (NASDAQ:TMDI) by 27.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,342 shares of the company’s stock after purchasing an additional 7,301 shares during the period. Morgan Stanley owned approximately 0.16% of Titan Medical worth $81,000 at the end of the most recent reporting period. Institutional investors own 8.73% 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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