Orthofix Medical (NASDAQ:OFIX) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIXFree Report) from a sell rating to a hold rating in a report published on Tuesday.

Separately, Roth Mkm began coverage on shares of Orthofix Medical in a research note on Friday, October 20th. They issued a neutral rating and a $12.00 target price for the company.

Check Out Our Latest Stock Report on Orthofix Medical

Orthofix Medical Stock Up 3.0 %

Shares of NASDAQ:OFIX opened at $14.43 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $13.17 and its 200-day moving average is $14.22. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $22.26.

Orthofix Medical (NASDAQ:OFIXGet Free Report) last released its earnings results on Wednesday, November 8th. The medical device company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.02). Orthofix Medical had a negative net margin of 20.39% and a negative return on equity of 7.26%. The company had revenue of $184.01 million during the quarter, compared to the consensus estimate of $185.50 million. On average, sell-side analysts forecast that Orthofix Medical will post -3.16 earnings per share for the current fiscal year.

Institutional Trading of Orthofix Medical

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Orthofix Medical by 55.5% in the first quarter. BlackRock Inc. now owns 6,006,860 shares of the medical device company’s stock valued at $100,615,000 after buying an additional 2,144,154 shares in the last quarter. Rubric Capital Management LP increased its holdings in shares of Orthofix Medical by 43.6% in the third quarter. Rubric Capital Management LP now owns 3,434,665 shares of the medical device company’s stock valued at $44,170,000 after purchasing an additional 1,042,253 shares in the last quarter. Armistice Capital LLC increased its holdings in shares of Orthofix Medical by 21.7% in the third quarter. Armistice Capital LLC now owns 2,964,000 shares of the medical device company’s stock valued at $38,117,000 after purchasing an additional 528,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Orthofix Medical by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,486,073 shares of the medical device company’s stock worth $31,971,000 after buying an additional 79,793 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Orthofix Medical by 1.0% in the 2nd quarter. State Street Corp now owns 1,581,014 shares of the medical device company’s stock valued at $28,553,000 after buying an additional 15,098 shares during the period. 89.76% of the stock is owned by institutional investors.

Orthofix Medical Company Profile

(Get Free Report)

Orthofix Medical Inc operates spine and orthopedics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through Global Spine and Global Orthopedics segments. The Global Spine segment comprises the bone growth therapies products, which manufactures and distributes bone growth stimulator devices for enhance of bone fusion including adjunctive and noninvasive treatment of cervical and lumbar spine as well as a therapeutic treatment for non-spine; the spinal implants products designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and the biological products, such as regenerative products and tissue forms which allow physicians to treat a variety of spinal and orthopedic conditions.

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