Orthofix Medical (NASDAQ:OFIX) Shares Gap Up to $13.89

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $13.89, but opened at $14.57. Orthofix Medical shares last traded at $15.46, with a volume of 212,979 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OFIX shares. JMP Securities restated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and raised their target price for the company from $15.00 to $20.00 in a research report on Wednesday. StockNews.com upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Roth Capital raised Orthofix Medical from a “neutral” rating to a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Stock Down 2.8 %

The firm has a market capitalization of $542.07 million, a price-to-earnings ratio of -3.50 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 has a fifty day moving average of $13.69 and a two-hundred day moving average of $13.04.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share for the quarter, beating the consensus estimate 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. Sell-side analysts anticipate that Orthofix Medical Inc. will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OFIX. Gladius Capital Management LP lifted its holdings in Orthofix Medical by 55.2% in the fourth quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock valued at $38,000 after buying an additional 1,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 worth $101,000 after buying an additional 1,752 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Orthofix Medical during the 3rd quarter worth approximately $130,000. Arizona State Retirement System bought a new stake in shares of Orthofix Medical in the 4th quarter valued at $138,000. Finally, Teza Capital Management LLC acquired a new position in shares of Orthofix Medical during the 3rd quarter valued at $133,000. 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.