Orthofix Medical (NASDAQ:OFIX) Given Market Perform Rating at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a report issued on Monday morning, Benzinga reports.

Other analysts have also recently issued reports about the company. Roth Mkm lifted their price objective on Orthofix Medical from $12.00 to $15.00 and gave the company a neutral rating in a research report on Thursday, March 7th. StockNews.com cut Orthofix Medical from a hold rating to a sell rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Orthofix Medical presently has an average rating of Hold and an average target price of $15.50.

Orthofix Medical Price Performance

Orthofix Medical stock opened at $13.08 on Monday. Orthofix Medical has a one year low of $9.57 and a one year high of $21.60. The business has a fifty day moving average price of $13.72 and a 200-day moving average price of $12.91. 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 firm has a market capitalization of $489.28 million, a P/E ratio of -3.16 and a beta of 1.04.

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

Institutional Trading of Orthofix Medical

A number of hedge funds have recently made changes to their positions in OFIX. Gladius Capital Management LP boosted its position in shares of Orthofix Medical by 55.2% in the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Orthofix Medical by 30.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after acquiring an additional 1,752 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Orthofix Medical in the 3rd quarter worth approximately $130,000. Teza Capital Management LLC purchased a new position in Orthofix Medical in the 3rd quarter worth approximately $133,000. Finally, Arizona State Retirement System purchased a new position in Orthofix Medical in the 4th quarter worth approximately $138,000. 89.76% of the stock is owned by institutional investors.

Orthofix Medical Company Profile

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.