Zacks Investment Research Upgrades Myomo (NYSEAMERICAN:MYO) to “Buy”
Zacks Investment Research upgraded shares of Myomo (NYSEAMERICAN:MYO) from a hold rating to a buy rating in a research note issued to investors on Saturday, Zacks.com reports. They currently have $4.25 price objective on the stock.
According to Zacks, “Myomo, Inc. is a commercial stage medical robotics company. It offers expanded mobility which suffering from neurological disorders and upper limb paralysis. The company develops and markets the MyoPro(R) product line of lightweight, non-invasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals. Myomo, Inc. is headquartered in Cambridge,Massachusetts. “
Separately, Dougherty & Co initiated coverage on Myomo in a research note on Wednesday, May 27th. They set a buy rating and a $8.50 price objective for the company.
Myomo (NYSEAMERICAN:MYO) last released its quarterly earnings results on Monday, August 10th. The company reported ($1.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.31) by $0.19.
Large investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its stake in shares of Myomo by 100.0% during the 2nd quarter. Fifth Third Bancorp now owns 12,000 shares of the company’s stock valued at $44,000 after acquiring an additional 6,000 shares during the period. Bank of New York Mellon Corp bought a new position in Myomo in the 2nd quarter worth approximately $111,000. Finally, Sabby Management LLC bought a new position in Myomo in the 1st quarter worth approximately $184,000.
Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis used for the purpose of supporting a patient's weak or deformed arm to enable and improve functional activities of daily living, ADLs, in the home and community.
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