Orthofix Medical’s (OFIX) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Orthofix Medical (NASDAQ:OFIX) in a report released on Friday,Benzinga reports. Roth Mkm currently has a $22.00 price target on the medical device company’s stock, up from their prior price target of $20.00.

Separately, Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and raised their target price for the stock from $18.00 to $24.00 in a research report on Friday. Two 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 an average rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock traded up $1.19 during trading on Friday, hitting $19.41. 673,214 shares of the company’s stock traded hands, compared to its average volume of 220,470. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13. Orthofix Medical has a 1 year low of $9.57 and a 1 year high of $19.79. The stock has a market capitalization of $740.88 million, a P/E ratio of -6.08 and a beta of 1.05. The business has a 50-day simple moving average of $16.24 and a 200-day simple moving average of $15.27.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.58). The firm 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%. As a group, analysts forecast that Orthofix Medical will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OFIX. Price T Rowe Associates Inc. MD lifted its position in shares of Orthofix Medical by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock valued at $479,000 after buying an additional 1,236 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Orthofix Medical by 4.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock valued at $423,000 after buying an additional 1,336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 valued at $125,000 after buying an additional 1,919 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Orthofix Medical during the 2nd quarter valued at about $27,000. Finally, Victory Capital Management Inc. lifted its position in shares of Orthofix Medical by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after buying an additional 2,074 shares in 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.