According to Zacks, “Titan Medical Inc. is focused on the design and development of a robotic surgical system for application in minimally invasive surgery. The Company’s SPORT Surgical System includes a surgeon-controlled robotic platform which incorporates a 3D high-definition vision system and multi-articulating instruments for performing MIS procedures through a single incision. The surgical system also includes a surgeon workstation which provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and viewing the inside of a patient’s body in 3D during MIS procedures. Titan Medical Inc. is based in ON, Canada. “
Separately, Oppenheimer cut Titan Medical from an outperform rating to a market perform rating in a report on Friday, March 25th.
Titan Medical (NASDAQ:TMDI – Get Rating) last posted its quarterly earnings data on Thursday, March 24th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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. As a group, sell-side analysts predict that Titan Medical will post -0.39 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Masters Capital Management LLC raised its holdings in 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 acquiring an additional 500,000 shares in the last quarter. Morgan Stanley raised its holdings in Titan Medical by 79.4% in the 2nd quarter. Morgan Stanley now owns 222,207 shares of the company’s stock valued at $380,000 after acquiring an additional 98,374 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Titan Medical in the 2nd quarter valued at approximately $222,000. Renaissance Technologies LLC grew its stake in shares of Titan Medical by 211.0% in the 4th quarter. Renaissance Technologies LLC now owns 266,831 shares of the company’s stock valued at $167,000 after purchasing an additional 181,046 shares during the period. Finally, Citadel Advisors LLC bought a new stake in shares of Titan Medical in the 4th quarter valued at approximately $124,000. 3.69% of the stock is owned by hedge funds and other institutional investors.
Titan Medical Company Profile (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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