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

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a report issued on Friday,Benzinga reports. They presently have a $22.00 price target on the medical device company’s stock, up from their prior price target of $20.00. Roth Mkm’s target price points to a potential upside of 13.46% from the company’s current price.

Separately, Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and upped their target price for the company from $18.00 to $24.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Orthofix Medical has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Orthofix Medical Stock Up 6.4 %

Shares of NASDAQ:OFIX traded up $1.17 during trading hours on Friday, reaching $19.39. The stock had a trading volume of 310,662 shares, compared to its average volume of 324,907. Orthofix Medical has a 1 year low of $9.57 and a 1 year high of $19.76. The firm’s 50 day moving average is $16.20 and its 200-day 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 stock has a market capitalization of $740.21 million, a price-to-earnings ratio of -6.11 and a beta of 1.05.

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

Institutional Trading of Orthofix Medical

Large investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in Orthofix Medical during the 2nd quarter worth $27,000. Quest Partners LLC acquired a new stake in Orthofix Medical during the 2nd quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Orthofix Medical by 25.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after purchasing an additional 1,919 shares during the period. Arizona State Retirement System acquired a new stake in Orthofix Medical during the 2nd quarter worth $139,000. Finally, XTX Topco Ltd acquired a new stake in Orthofix Medical during the 2nd quarter worth $175,000. Institutional investors and hedge funds 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.