Orthofix Medical (NASDAQ:OFIX) Upgraded to “Buy” at Roth Mkm

Roth Mkm upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a neutral rating to a buy rating in a report issued on Wednesday, Marketbeat reports. The firm currently has $20.00 price target on the medical device company’s stock, up from their prior price target of $15.00.

A number of other analysts have also issued reports on the company. StockNews.com lowered Orthofix Medical from a hold rating to a sell rating in a report on Wednesday, March 6th. JMP Securities restated a market perform rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Orthofix Medical currently has a consensus rating of Hold and an average price target of $18.00.

Orthofix Medical Stock Up 7.3 %

Shares of NASDAQ:OFIX opened at $14.90 on Wednesday. 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 business has a 50 day simple moving average of $13.66 and a two-hundred day simple moving average of $13.03. Orthofix Medical has a 1 year low of $9.57 and a 1 year high of $21.60. The firm has a market capitalization of $557.41 million, a PE ratio of -3.60 and a beta of 1.06.

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

Institutional Trading of Orthofix Medical

Hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP lifted its stake in shares of Orthofix Medical by 55.2% during 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Orthofix Medical by 30.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after purchasing an additional 1,752 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Orthofix Medical in the 3rd quarter valued at about $130,000. Teza Capital Management LLC purchased a new position in shares of Orthofix Medical in the 3rd quarter worth approximately $133,000. Finally, Arizona State Retirement System bought a new position in shares of Orthofix Medical during the 4th quarter worth approximately $138,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.