Orthofix Medical (NASDAQ:OFIX) Lifted to “Buy” at Roth Capital

Orthofix Medical (NASDAQ:OFIX) was upgraded by Roth Capital from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. Roth Capital also issued estimates for Orthofix Medical’s Q1 2024 earnings at ($0.55) EPS, Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($1.06) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.20 EPS.

OFIX has been the topic of a number of other reports. Roth Mkm raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $20.00 in a research note on Wednesday. StockNews.com upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Orthofix Medical Trading Up 7.3 %

OFIX stock opened at $14.90 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 2.54 and a debt-to-equity ratio of 0.19. Orthofix Medical has a twelve month low of $9.57 and a twelve month high of $21.60. The company has a market cap of $557.41 million, a P/E ratio of -3.60 and a beta of 1.06. The business has a fifty day moving average of $13.66 and a 200-day moving average of $13.03.

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

Institutional Trading of Orthofix Medical

A number of large investors have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Orthofix Medical by 1.3% in the third quarter. Swiss National Bank now owns 76,400 shares of the medical device company’s stock worth $983,000 after acquiring an additional 1,000 shares in the last quarter. Gladius Capital Management LP increased its stake in 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 in the last quarter. Gamco Investors INC. ET AL raised its holdings in Orthofix Medical by 1.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 91,400 shares of the medical device company’s stock worth $1,175,000 after buying an additional 1,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 valued at $101,000 after buying an additional 1,752 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Orthofix Medical by 34.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock valued at $197,000 after buying an additional 3,490 shares during the period. 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.