Orthofix Medical (NASDAQ:OFIX) Rating Increased to Hold at StockNews.com

Orthofix Medical (NASDAQ:OFIX) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other research firms also recently commented on OFIX. Roth Mkm raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $15.00 to $20.00 in a report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Stock Performance

NASDAQ:OFIX opened at $14.49 on Wednesday. The firm’s 50-day moving average is $13.69 and its 200-day moving average is $13.04. The company has a market cap of $542.07 million, a price-to-earnings ratio of -3.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 2.54. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $21.60.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results 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 firm 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%. Equities research analysts anticipate that Orthofix Medical will post -1.51 earnings per share for the current year.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP raised its stake in shares of Orthofix Medical by 6.7% in the fourth quarter. Rubric Capital Management LP now owns 3,665,000 shares of the medical device company’s stock valued at $49,404,000 after acquiring an additional 230,335 shares during the last quarter. Armistice Capital LLC raised its position in Orthofix Medical by 21.5% in the 4th quarter. Armistice Capital LLC now owns 3,600,000 shares of the medical device company’s stock valued at $48,528,000 after purchasing an additional 636,000 shares during the last quarter. Engine Capital Management LP acquired a new position in Orthofix Medical in the fourth quarter worth $40,916,000. Vanguard Group Inc. grew its holdings in shares of Orthofix Medical by 3.3% during the third quarter. Vanguard Group Inc. now owns 2,486,073 shares of the medical device company’s stock worth $31,971,000 after purchasing an additional 79,793 shares during the last quarter. Finally, AWM Investment Company Inc. increased its stake in shares of Orthofix Medical by 77.4% in the third quarter. AWM Investment Company Inc. now owns 598,463 shares of the medical device company’s stock valued at $7,696,000 after buying an additional 261,081 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.