Zacks: Analysts Anticipate Titan Medical Inc. (NASDAQ:TMDI) to Announce -$0.10 EPS

Equities research analysts predict that Titan Medical Inc. (NASDAQ:TMDI – Get Rating) will report earnings per share of ($0.10) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Titan Medical’s earnings. Titan Medical posted earnings per share of ($0.12) during the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Titan Medical will report full year earnings of ($0.39) per share for the current financial year, with EPS estimates ranging from ($0.43) to ($0.35). For the next year, analysts forecast that the business will post earnings of ($0.39) per share, with EPS estimates ranging from ($0.51) to ($0.26). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Titan Medical.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Titan Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, January 18th. Oppenheimer lowered Titan Medical from an “outperform” rating to a “market perform” rating in a report on Friday, March 25th.

TMDI stock opened at $0.48 on Monday. The firm’s 50-day moving average price is $0.56 and its two-hundred day moving average price is $0.82. The stock has a market capitalization of $53.41 million, a price-to-earnings ratio of -3.00 and a beta of 2.88. Titan Medical has a 12-month low of $0.47 and a 12-month high of $2.15.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Essex LLC raised its stake in Titan Medical by 11.4% in the fourth quarter. Essex LLC now owns 1,654,183 shares of the company’s stock worth $1,090,000 after buying an additional 169,600 shares in the last quarter. Masters Capital Management LLC lifted its holdings in shares of Titan Medical by 50.0% in the 3rd quarter. Masters Capital Management LLC now owns 1,500,000 shares of the company’s stock valued at $2,280,000 after buying an additional 500,000 shares during the period. Renaissance Technologies LLC increased its holdings in Titan Medical by 211.0% in the fourth quarter. Renaissance Technologies LLC now owns 266,831 shares of the company’s stock valued at $167,000 after buying an additional 181,046 shares in the last quarter. Morgan Stanley grew its holdings in Titan Medical by 79.4% in the second quarter. Morgan Stanley now owns 222,207 shares of the company’s stock valued at $380,000 after purchasing an additional 98,374 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in Titan Medical in the 4th quarter worth $124,000. 4.38% of the stock is currently owned by institutional investors and hedge funds.

About Titan Medical (Get Rating)

Titan Medical Inc, a medical technology company, focuses on the development and commercialization of robotic assisted surgical technologies for application in minimally invasive surgery. It is developing the Enos system, a robotic single access surgical system that includes a surgeon-controlled patient cart comprising a 3D high-definition vision system and multi-articulating instruments for performing surgical 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 surgical procedures.

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