Orthofix Medical (NASDAQ:OFIX) Shares Cross Above 200 Day Moving Average of $14.48

Orthofix Medical Inc. (NASDAQ:OFIX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.48 and traded as high as $17.16. Orthofix Medical shares last traded at $17.03, with a volume of 228,742 shares trading hands.

Orthofix Medical Stock Up 2.6 %

The stock has a 50 day moving average price of $15.90 and a 200 day moving average price of $14.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.13 and a current ratio of 2.48. The company has a market capitalization of $639.12 million, a P/E ratio of -5.04 and a beta of 1.05.

Orthofix Medical (NASDAQ:OFIX) last released its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.58). The company had revenue of $198.62 million for the quarter, compared to the consensus estimate of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. Equities research analysts forecast that Orthofix Medical Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Orthofix Medical by 4.4% in the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock valued at $423,000 after acquiring an additional 1,336 shares during the period. Armistice Capital LLC increased its stake in shares of Orthofix Medical by 1.4% in the second quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock worth $49,725,000 after purchasing an additional 50,000 shares in the last quarter. AYAL Capital Advisors Ltd increased its stake in shares of Orthofix Medical by 10.2% in the second quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock worth $9,107,000 after purchasing an additional 63,697 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Orthofix Medical in the second quarter valued at approximately $405,000. Finally, Engine Capital Management LP lifted its stake in shares of Orthofix Medical by 11.0% during the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after buying an additional 333,364 shares in the last quarter. 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.