Roth Mkm Forecasts Strong Price Appreciation for Monogram Orthopaedics (NASDAQ:MGRM) Stock

Monogram Orthopaedics (NASDAQ:MGRM) had its price target hoisted by stock analysts at Roth Mkm from $4.00 to $5.40 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 60.71% from the company’s previous close.

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

Monogram Orthopaedics Price Performance

Shares of NASDAQ:MGRM opened at $3.36 on Tuesday. Monogram Orthopaedics has a 1-year low of $1.53 and a 1-year high of $4.90. The business has a fifty day moving average price of $2.60 and a 200-day moving average price of $2.50. The company has a market capitalization of $118.57 million, a PE ratio of -7.15 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 for the quarter, beating the consensus estimate of ($0.11) by $0.03. On average, sell-side analysts anticipate that Monogram Orthopaedics will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monogram Orthopaedics

Several large investors have recently bought and sold shares of MGRM. Jane Street Group LLC purchased a new position in Monogram Orthopaedics in the fourth quarter worth about $25,000. Wells Fargo & Company MN boosted its position in Monogram Orthopaedics by 286.6% in the fourth quarter. Wells Fargo & Company MN now owns 11,597 shares of the company’s stock worth $27,000 after purchasing an additional 8,597 shares during the last quarter. Barclays PLC purchased a new position in Monogram Orthopaedics in the third quarter worth about $29,000. Orion Portfolio Solutions LLC purchased a new position in Monogram Orthopaedics in the fourth quarter worth about $31,000. Finally, State Street Corp purchased a new position in Monogram Orthopaedics in the third quarter worth about $62,000. 0.45% of the stock is currently owned by institutional investors.

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.