Orthofix Medical (NASDAQ:OFIX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other research firms have also recently issued reports on OFIX. JMP Securities reaffirmed a market perform rating on shares of Orthofix Medical in a report on Monday, April 22nd. Roth Mkm raised Orthofix Medical from a neutral rating to a buy rating and increased their target price for the stock from $15.00 to $20.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $18.00.

Orthofix Medical Stock Performance

Orthofix Medical stock opened at $14.90 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.54 and a quick ratio of 1.20. The firm’s fifty day moving average price is $13.66 and its 200 day moving average price is $13.03. The company has a market capitalization of $557.41 million, a price-to-earnings ratio of -3.60 and a beta of 1.06. Orthofix Medical has a 12-month low of $9.57 and a 12-month high of $21.60.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $200.42 million for the quarter. On average, research analysts forecast that Orthofix Medical will post -1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tejara Capital Ltd acquired a new stake in shares of Orthofix Medical in the 3rd quarter worth about $2,698,000. Assenagon Asset Management S.A. raised its holdings 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 last quarter. Algert Global LLC boosted 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 worth $1,777,000 after buying an additional 44,638 shares during the period. Graham Capital Management L.P. bought a new position in Orthofix Medical in the 3rd quarter worth approximately $364,000. Finally, Vanguard Group Inc. increased its position in Orthofix Medical by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,486,073 shares of the medical device company’s stock valued at $31,971,000 after acquiring an additional 79,793 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.