JMP Securities Reaffirms Market Perform Rating for Orthofix Medical (NASDAQ:OFIX)

JMP Securities reiterated their market perform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a research note released on Monday, Benzinga reports.

OFIX has been the topic of several other research reports. StockNews.com lowered shares of Orthofix Medical from a hold rating to a sell rating in a research report on Wednesday, March 6th. Roth Mkm increased their price objective on Orthofix Medical from $12.00 to $15.00 and gave the company a neutral rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $15.50.

Orthofix Medical Stock Up 2.6 %

OFIX stock opened at $13.56 on Monday. The firm has a 50 day moving average of $13.72 and a 200 day moving average of $12.92. The stock has a market capitalization of $507.28 million, a PE ratio of -3.28 and a beta of 1.04. Orthofix Medical has a 52 week low of $9.57 and a 52 week high of $21.60. The company has a quick ratio of 1.20, a current ratio of 2.54 and a debt-to-equity ratio of 0.19.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.01. The firm had revenue of $200.42 million during the quarter. Orthofix Medical had a negative net margin of 20.28% and a negative return on equity of 10.63%. Sell-side analysts forecast that Orthofix Medical will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP raised its stake in Orthofix Medical by 55.2% during the fourth quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock worth $38,000 after purchasing an additional 1,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Orthofix Medical by 30.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after acquiring an additional 1,752 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Orthofix Medical during the third quarter worth $130,000. Teza Capital Management LLC purchased a new stake in Orthofix Medical in the third quarter valued at $133,000. Finally, Arizona State Retirement System acquired a new position in shares of Orthofix Medical in the 4th quarter valued at $138,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.