Orthofix Medical (NASDAQ:OFIX) Shares Pass Above Two Hundred Day Moving Average of $12.90

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.90 and traded as high as $13.25. Orthofix Medical shares last traded at $13.10, with a volume of 285,114 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OFIX shares. StockNews.com cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Roth Mkm upped their price objective on Orthofix Medical from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th.

Orthofix Medical Price Performance

The company’s 50-day moving average price is $13.75 and its two-hundred day moving average price is $12.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.54 and a quick ratio of 1.20. The company has a market capitalization of $490.07 million, a P/E ratio of -3.16 and a beta of 1.04.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.01. The firm had revenue of $200.42 million for the quarter. Orthofix Medical had a negative net margin of 20.28% and a negative return on equity of 10.63%. As a group, sell-side analysts expect that Orthofix Medical Inc. will post -1.51 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP increased its holdings in shares of Orthofix Medical by 55.2% during the fourth quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock worth $38,000 after purchasing an additional 1,010 shares during the period. Quantbot Technologies LP bought a new position in Orthofix Medical during the 1st quarter worth $39,000. PNC Financial Services Group Inc. raised its holdings in Orthofix Medical by 23.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,960 shares of the medical device company’s stock valued at $53,000 after acquiring an additional 570 shares in the last quarter. UBS Group AG lifted its position in shares of Orthofix Medical by 2,120.8% during the 3rd quarter. UBS Group AG now owns 2,776 shares of the medical device company’s stock valued at $53,000 after acquiring an additional 2,651 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Orthofix Medical by 10,301.6% during the 4th quarter. US Bancorp DE now owns 6,657 shares of the medical device company’s stock worth $90,000 after purchasing an additional 6,593 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment 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; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.