-$0.06 EPS Expected for Titan Medical Inc. (NASDAQ:TMDI) This Quarter

Brokerages predict that Titan Medical Inc. (NASDAQ:TMDI) will report ($0.06) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have provided estimates for Titan Medical’s earnings. Titan Medical reported earnings of ($0.02) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 200%. The business is expected to report its next quarterly earnings report on Monday, November 15th.

According to Zacks, analysts expect that Titan Medical will report full year earnings of ($0.37) per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post earnings of ($0.32) per share, with EPS estimates ranging from ($0.39) to ($0.24). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Titan Medical.

Titan Medical (NASDAQ:TMDI) last announced its earnings results on Wednesday, August 11th. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $10.04 million for the quarter, compared to analysts’ expectations of $10.00 million.

Separately, Zacks Investment Research cut Titan Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, August 17th.

Hedge funds have recently modified their holdings of the company. Sara Bay Financial purchased a new position in shares of Titan Medical in the 2nd quarter valued at about $26,000. Thoroughbred Financial Services LLC purchased a new position in shares of Titan Medical in the 2nd quarter valued at about $28,000. Magnolia Capital Advisors LLC purchased a new position in shares of Titan Medical in the 2nd quarter valued at about $29,000. Rockefeller Capital Management L.P. purchased a new position in shares of Titan Medical in the 1st quarter valued at about $31,000. Finally, Tradition Wealth Management LLC purchased a new position in shares of Titan Medical in the 2nd quarter valued at about $34,000. 3.01% of the stock is owned by institutional investors and hedge funds.

TMDI traded up $0.01 on Friday, reaching $1.58. 74 shares of the stock were exchanged, compared to its average volume of 1,955,080. The company’s 50-day moving average price is $1.63 and its 200 day moving average price is $1.72. Titan Medical has a fifty-two week low of $0.57 and a fifty-two week high of $3.47. The firm has a market capitalization of $175.58 million, a PE ratio of -3.65 and a beta of 3.11.

About Titan Medical

Titan Medical, Inc engages in the research and development of a computer-assisted robotic surgical technology for application in minimally invasive surgery (MIS). Its portfolio, the Enos™ system, is a robotic single access surgery with dual 3D and 2D definition vision systems, multi-articulating instruments, and a surgeon workstation.

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Earnings History and Estimates for Titan Medical (NASDAQ:TMDI)

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