Titan Medical Inc. [TMDI] Stock trading around $1.92 per share: What’s Next?

Titan Medical Inc. [NASDAQ: TMDI] price surged by 4.92 percent to reach at $0.09. The company report on May 28, 2021 that Titan Medical Receives License Fee of $10 Million Upon Achievement of Milestone Under Medtronic Development Agreement.

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Completion of Second Technical Milestone Marks Third Achievement Under Development and License Agreement.

Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device company focused on the design and development of surgical technologies for robotic single access surgery, announced that it has completed the second technical milestone under the development and license agreement with Medtronic plc (NYSE: MDT), and received a U.S. $10 million payment for licensing the developed technologies to Medtronic.

A sum of 7141938 shares traded at recent session while its average daily volume was at 1.85M shares. Titan Medical Inc. shares reached a high of $2.15 and dropped to a low of $1.79 until finishing in the latest session at $1.92.

Guru’s Opinion on Titan Medical Inc. [TMDI]:

Oppenheimer have made an estimate for Titan Medical Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 07, 2021. While these analysts kept the previous recommendation, Piper Jaffray raised their target price to Overweight. The new note on the price target was released on May 22, 2019, representing the official price target for Titan Medical Inc. stock.

The Average True Range (ATR) for Titan Medical Inc. is set at 0.13, with the Price to Sales ratio for TMDI stock in the period of the last 12 months amounting to 10.51.

TMDI Stock Performance Analysis:

Titan Medical Inc. [TMDI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.87. With this latest performance, TMDI shares gained by 15.66% in over the last four-week period, additionally plugging by 93.94% over the last 6 months – not to mention a rise of 619.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TMDI stock in for the last two-week period is set at 61.22, with the RSI for the last a single of trading hit 67.31, and the three-weeks RSI is set at 56.77 for Titan Medical Inc. [TMDI]. The present Moving Average for the last 50 days of trading for this stock 1.7124, while it was recorded at 1.7980 for the last single week of trading, and 1.4736 for the last 200 days.

Insight into Titan Medical Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Titan Medical Inc. [TMDI] shares currently have an operating margin of +20.98. Titan Medical Inc.’s Net Margin is presently recorded at -120.92.

Receivables Turnover for the company is 267.95 with a Total Asset Turnover recorded at a value of 1.27.

Titan Medical Inc. [TMDI] Insider Position Details

There are presently around $5 million, or 4.43% of TMDI stock, in the hands of institutional investors. The top three institutional holders of TMDI stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 1,089,983, which is approximately 84.994% of the company’s market cap and around 0.30% of the total institutional ownership; TWO SIGMA ADVISERS, LP, holding 185,900 shares of the stock with an approximate value of $0.36 million in TMDI stocks shares; and BANK OF AMERICA CORP /DE/, currently with $0.34 million in TMDI stock with ownership of nearly 89.012% of the company’s market capitalization.

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Positions in Titan Medical Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 30 institutional holders increased their position in Titan Medical Inc. [NASDAQ:TMDI] by around 1,239,911 shares. Additionally, 13 investors decreased positions by around 1,765,878 shares, while 14 investors held positions by with 204,018 shares. The mentioned changes placed institutional holdings at 2,801,771 shares, according to the latest SEC report filing. TMDI stock had 12 new institutional investments in for a total of 436,093 shares, while 6 institutional investors sold positions of 1,591,684 shares during the same period.

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