Orthofix Medical (NASDAQ:OFIX) Receives Buy Rating from Roth Mkm

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a research note issued on Friday,Benzinga reports. They presently have a $22.00 price objective on the medical device company’s stock, up from their previous price objective of $20.00. Roth Mkm’s target price suggests a potential upside of 13.46% from the stock’s previous close.

Separately, Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX traded up $1.17 during midday trading on Friday, hitting $19.39. The company’s stock had a trading volume of 310,662 shares, compared to its average volume of 324,907. The business’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $15.23. 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 cap of $740.21 million, a P/E ratio of -6.11 and a beta of 1.05. Orthofix Medical has a 12-month low of $9.57 and a 12-month high of $19.76.

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

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Orthofix Medical by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock worth $479,000 after purchasing an additional 1,236 shares during the period. AQR Capital Management LLC increased its position in shares of Orthofix Medical by 4.4% during the second 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after acquiring an additional 1,919 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Orthofix Medical during the second quarter valued at about $27,000. Finally, Victory Capital Management Inc. increased its position in shares of Orthofix Medical by 3.3% during the third quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after acquiring an additional 2,074 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.