Orthofix Medical (NASDAQ:OFIX) Stock Passes Above 200-Day Moving Average of $12.90

Orthofix Medical Inc. (NASDAQ:OFIX) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Roth Mkm lifted their price objective on shares of Orthofix Medical from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. StockNews.com lowered shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th.

Orthofix Medical Price Performance

The company has a current ratio of 2.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19. The stock has a market cap of $490.07 million, a PE ratio of -3.16 and a beta of 1.04. The business has a 50-day moving average price of $13.75 and a 200 day moving average price of $12.90.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. The business 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%. As a group, research analysts forecast that Orthofix Medical Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tejara Capital Ltd purchased a new position in shares of Orthofix Medical in the third quarter valued at $2,698,000. Assenagon Asset Management S.A. increased its position in shares of Orthofix Medical by 358.6% during the third quarter. Assenagon Asset Management S.A. now owns 568,531 shares of the medical device company’s stock valued at $7,311,000 after buying an additional 444,573 shares during the period. Algert Global LLC increased its position in shares of Orthofix Medical by 47.7% during the third quarter. Algert Global LLC now owns 138,154 shares of the medical device company’s stock valued at $1,777,000 after buying an additional 44,638 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Orthofix Medical in the third quarter worth about $364,000. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Orthofix Medical in the third quarter valued at approximately $288,000. 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.