Brokerages Expect Titan Medical Inc. (NASDAQ:TMDI) to Post -$0.10 Earnings Per Share

Equities analysts predict that Titan Medical Inc. (NASDAQ:TMDI – Get Rating) will post ($0.10) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Titan Medical’s earnings. Titan Medical posted earnings of ($0.12) per share in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Titan Medical will report full-year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.43) to ($0.35). For the next year, analysts forecast that the firm will report 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 research firms that follow Titan Medical.

Titan Medical (NASDAQ:TMDI – Get Rating) last posted its quarterly earnings data on Thursday, March 24th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The business had revenue of $10.00 million for the quarter, compared to analyst estimates of $11.00 million.

Several research analysts have commented on TMDI shares. Zacks Investment Research downgraded shares of Titan Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, January 18th. Oppenheimer cut shares of Titan Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, March 25th.

Shares of NASDAQ TMDI traded down $0.03 during midday trading on Friday, reaching $0.53. The company’s stock had a trading volume of 229,499 shares, compared to its average volume of 363,054. Titan Medical has a fifty-two week low of $0.38 and a fifty-two week high of $2.15. The business’s 50 day moving average price is $0.52 and its two-hundred day moving average price is $0.72. The company has a market cap of $58.82 million, a P/E ratio of -3.31 and a beta of 2.81.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG raised its position in Titan Medical by 179.3% in the 3rd quarter. UBS Group AG now owns 40,041 shares of the company’s stock worth $61,000 after purchasing an additional 25,703 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Titan Medical in the 4th quarter worth $28,000. Wells Fargo & Company MN raised its position in Titan Medical by 2,253.3% in the 4th quarter. Wells Fargo & Company MN now owns 52,219 shares of the company’s stock worth $32,000 after purchasing an additional 50,000 shares during the period. Virtu Financial LLC bought a new stake in Titan Medical in the 4th quarter worth $64,000. Finally, Millennium Management LLC bought a new stake in Titan Medical in the 2nd quarter worth $222,000. Institutional investors and hedge funds own 3.69% of the company’s stock.

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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