Monogram Orthopaedics (NASDAQ:MGRM) Shares Down 0.7% - What's Next?

Key Points

• Monogram Orthopaedics Inc. (NASDAQ:MGRM) experienced a stock decline of 0.7%, trading last at $5.61 with a notable drop in trading volume, down to approximately 186,267 shares.
• The company reported an earnings per share of ($0.10), slightly outperforming analyst expectations of ($0.12), with forecasts suggesting an EPS of -0.49 for the current fiscal year.
• Institutional investors showed significant activity, with Wells Fargo and other firms increasing their holdings, indicating potential confidence in Monogram's long-term prospects.

Monogram Orthopaedics Inc. (NASDAQ:MGRM - Get Free Report)'s stock price dropped 0.7% during trading on Wednesday . The stock traded as low as $5.58 and last traded at $5.61. Approximately 186,267 shares changed hands during trading, a decline of 80% from the average daily volume of 923,095 shares. The stock had previously closed at $5.65.

Monogram Orthopaedics Trading Up 0.6%

The firm's 50-day moving average is $3.66 and its 200 day moving average is $3.02. The firm has a market capitalization of $192.37 million, a price-to-earnings ratio of -11.98 and a beta of 0.67.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Analysts predict that Monogram Orthopaedics Inc. will post -0.49 EPS for the current year.

Institutional Trading of Monogram Orthopaedics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Monogram Orthopaedics by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 226,378 shares of the company's stock worth $537,000 after acquiring an additional 16,234 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its position in Monogram Orthopaedics by 6.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 213,678 shares of the company's stock valued at $628,000 after buying an additional 12,328 shares during the period. Northern Trust Corp grew its position in Monogram Orthopaedics by 110.6% during the fourth quarter. Northern Trust Corp now owns 45,873 shares of the company's stock valued at $109,000 after buying an additional 24,088 shares during the period. Commonwealth Equity Services LLC grew its position in Monogram Orthopaedics by 21.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 41,628 shares of the company's stock valued at $99,000 after buying an additional 7,366 shares during the period. Finally, Jane Street Group LLC grew its position in Monogram Orthopaedics by 83.0% during the first quarter. Jane Street Group LLC now owns 19,426 shares of the company's stock valued at $57,000 after buying an additional 8,810 shares during the period. Institutional investors own 0.45% of the company's stock.

Monogram Orthopaedics Company Profile

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.