Monogram Orthopaedics (NASDAQ:MGRM) Price Target Raised to $5.40

Monogram Orthopaedics (NASDAQ:MGRM) had its price objective raised by Roth Mkm from $4.00 to $5.40 in a research note published on Tuesday morning,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Separately, Roth Capital upgraded Monogram Orthopaedics to a “strong-buy” rating in a research report on Monday, December 9th.

Monogram Orthopaedics Stock Performance

MGRM stock opened at $3.12 on Tuesday. The firm has a fifty day moving average price of $2.61 and a 200 day moving average price of $2.51. Monogram Orthopaedics has a fifty-two week low of $1.70 and a fifty-two week high of $4.90. The firm has a market cap of $110.10 million, a PE ratio of -6.64 and a beta of 1.66.

Monogram Orthopaedics (NASDAQ:MGRM) last issued its quarterly earnings results on Wednesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. On average, equities analysts predict that Monogram Orthopaedics will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Monogram Orthopaedics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in shares of Monogram Orthopaedics during the fourth quarter worth about $25,000. Wells Fargo & Company MN grew its stake in shares of Monogram Orthopaedics by 286.6% during the fourth quarter. Wells Fargo & Company MN now owns 11,597 shares of the company’s stock worth $27,000 after acquiring an additional 8,597 shares during the last quarter. Barclays PLC purchased a new stake in shares of Monogram Orthopaedics during the third quarter worth about $29,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Monogram Orthopaedics during the fourth quarter worth about $31,000. Finally, State Street Corp purchased a new stake in shares of Monogram Orthopaedics during the third quarter worth about $62,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Monogram Orthopaedics

Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.