Orthofix Medical (NASDAQ:OFIX) Stock Rating Reaffirmed by JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a report issued on Monday morning, Benzinga reports.

Several other brokerages also recently weighed in on OFIX. StockNews.com downgraded shares of Orthofix Medical from a hold rating to a sell rating in a research note on Wednesday, March 6th. Roth Mkm boosted their target price on shares of Orthofix Medical from $12.00 to $15.00 and gave the company a neutral rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $15.50.

Orthofix Medical Stock Performance

NASDAQ:OFIX opened at $13.10 on Monday. 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 has a 52-week low of $9.57 and a 52-week high of $21.60. The stock has a fifty day simple moving average of $13.71 and a 200-day simple moving average of $12.93.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly 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 business had revenue of $200.42 million during the quarter. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%. Equities research analysts predict that Orthofix Medical will post -1.51 earnings per share for the current year.

Institutional Trading of Orthofix Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glenview Capital Management LLC purchased a new stake in Orthofix Medical in the 4th quarter valued at about $6,740,000. Boone Capital Management LLC purchased a new stake in Orthofix Medical in the 4th quarter valued at about $6,740,000. Engine Capital Management LP purchased a new stake in shares of Orthofix Medical during the 4th quarter worth about $40,916,000. Rubric Capital Management LP grew its holdings in shares of Orthofix Medical by 6.7% during the 4th quarter. Rubric Capital Management LP now owns 3,665,000 shares of the medical device company’s stock worth $49,404,000 after purchasing an additional 230,335 shares during the period. Finally, Keeley Teton Advisors LLC grew its holdings in shares of Orthofix Medical by 143.8% during the 4th quarter. Keeley Teton Advisors LLC now owns 50,339 shares of the medical device company’s stock worth $679,000 after purchasing an additional 29,689 shares during the period. Hedge funds and other institutional investors 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.