Piper Jaffray Companies Reaffirms Buy Rating for Titan Medical (NASDAQ:TMDI)

Piper Jaffray Companies restated their buy rating on shares of Titan Medical (NASDAQ:TMDI) in a research report report published on Monday morning, Stock Target Advisor reports. The firm currently has a $2.50 price objective on the stock.

A number of other brokerages have also weighed in on TMDI. ValuEngine upgraded Titan Medical from a hold rating to a buy rating in a research note on Thursday, August 1st. Maxim Group lowered Titan Medical from a buy rating to a hold rating in a research note on Wednesday, October 16th. Finally, Zacks Investment Research lowered Titan Medical from a buy rating to a hold rating in a research note on Saturday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $4.38.

NASDAQ TMDI traded up $0.03 during trading on Monday, reaching $0.61. The company’s stock had a trading volume of 1,029,418 shares, compared to its average volume of 391,651. The stock has a market capitalization of $14.96 million, a PE ratio of -0.42 and a beta of 4.61. The firm has a fifty day moving average of $0.68 and a 200 day moving average of $1.88. Titan Medical has a one year low of $0.38 and a one year high of $4.65.

A hedge fund recently raised its stake in Titan Medical stock. Valeo Financial Advisors LLC grew its position in shares of Titan Medical Inc. (NASDAQ:TMDI) by 4,411.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,117 shares of the company’s stock after purchasing an additional 44,117 shares during the quarter. Valeo Financial Advisors LLC owned approximately 0.21% of Titan Medical worth $106,000 as of its most recent SEC filing. 8.82% of the stock is currently owned by institutional investors.

About Titan Medical

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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