Zacks Investment Research upgraded shares of Titan Medical (NASDAQ:TMDI) from a hold rating to a buy rating in a report published on Tuesday. They currently have $2.25 price objective on the stock.

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. “

TMDI has been the subject of several other research reports. Maxim Group cut their price target on Titan Medical from $11.00 to $8.00 and set a buy rating for the company in a report on Tuesday, August 14th. Northland Capital Partners began coverage on Titan Medical in a report on Tuesday, September 18th. They set an outperform rating and a $6.00 price target for the company. Finally, Northland Securities began coverage on Titan Medical in a report on Monday, September 17th. They set an outperform rating and a $6.00 price target for the company.

NASDAQ:TMDI opened at $1.90 on Tuesday. Titan Medical has a 52-week low of $1.70 and a 52-week high of $11.79.

An institutional investor recently bought a new position in Titan Medical stock. Sio Capital Management LLC acquired a new stake in Titan Medical Inc. (NASDAQ:TMDI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 445,680 shares of the company’s stock, valued at approximately $949,000. Sio Capital Management LLC owned approximately 3.18% of Titan Medical as of its most recent SEC filing. Institutional investors and hedge funds own 2.42% of the company’s stock.

Titan Medical Company Profile

Titan Medical Inc, a development stage company, focuses on design and development of robotic surgical system for application in minimally invasive surgery (MIS). The company is developing 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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