Orthofix Medical (NASDAQ:OFIX) Rating Increased to Buy at Roth Mkm

Orthofix Medical (NASDAQ:OFIX) was upgraded by equities research analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a report released on Wednesday, Marketbeat.com reports. The firm currently has a $20.00 price target on the medical device company’s stock, up from their previous price target of $15.00. Roth Mkm’s target price suggests a potential upside of 38.03% from the company’s previous close.

Several other research firms have also recently commented on OFIX. StockNews.com cut shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Orthofix Medical currently has an average rating of “Hold” and an average target price of $18.00.

Orthofix Medical Stock Down 2.8 %

Shares of NASDAQ OFIX opened at $14.49 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 company has a 50-day moving average price of $13.69 and a 200-day moving average price of $13.04. The stock has a market capitalization of $542.07 million, a P/E ratio of -3.50 and a beta of 1.06. Orthofix Medical has a 1 year low of $9.57 and a 1 year 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, beating the consensus estimate of ($0.60) by $0.01. The company had revenue of $200.42 million for the quarter. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%. On average, equities research analysts forecast that Orthofix Medical will post -1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds have recently modified their holdings of OFIX. Gladius Capital Management LP boosted its position 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 raised its holdings in Orthofix Medical by 30.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock valued at $101,000 after acquiring an additional 1,752 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Orthofix Medical during the third quarter worth $130,000. Arizona State Retirement System bought a new position in shares of Orthofix Medical in the fourth quarter worth $138,000. Finally, Teza Capital Management LLC purchased a new position in shares of Orthofix Medical in the third quarter valued at $133,000. 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.