Orthofix Medical (NASDAQ:OFIX) Upgraded to Buy at Roth Capital

Roth Capital upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, 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.

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

Orthofix Medical Trading Up 7.3 %

Shares of OFIX stock opened at $14.90 on Wednesday. The company has a market cap of $557.41 million, a PE ratio of -3.60 and a beta of 1.06. 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 stock’s 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $13.03. Orthofix Medical has a 1 year low of $9.57 and a 1 year 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, 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 company had revenue of $200.42 million during the quarter. Research analysts predict that Orthofix Medical will post -1.51 earnings per share for the current year.

Hedge Funds Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in OFIX. Engine Capital Management LP purchased a new stake in Orthofix Medical in the fourth quarter worth about $40,916,000. Rubric Capital Management LP lifted its position in shares of Orthofix Medical by 43.6% in the 3rd quarter. Rubric Capital Management LP now owns 3,434,665 shares of the medical device company’s stock worth $44,170,000 after purchasing an additional 1,042,253 shares during the period. Armistice Capital LLC lifted its position in shares of 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 worth $48,528,000 after purchasing an additional 636,000 shares during the period. Boone Capital Management LLC bought a new position in shares of Orthofix Medical during the fourth quarter valued at approximately $6,740,000. Finally, Glenview Capital Management LLC purchased a new position in Orthofix Medical during the fourth quarter valued at approximately $6,740,000. Institutional investors own 89.76% of the company’s stock.

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.