Orthofix Medical (NASDAQ:OFIX) Trading 4.7% Higher

Orthofix Medical Inc. (NASDAQ:OFIX) shares rose 4.7% during mid-day trading on Wednesday . The stock traded as high as $17.06 and last traded at $17.05. Approximately 144,055 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 361,656 shares. The stock had previously closed at $16.29.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. StockNews.com raised Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Roth Capital raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Roth Mkm raised Orthofix Medical from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $20.00 in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Orthofix Medical Stock Performance

The firm’s 50 day moving average is $14.17 and its 200 day moving average is $13.97. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.65 and a quick ratio of 1.19. The company has a market capitalization of $619.62 million, a PE ratio of -4.89 and a beta of 1.05.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Tuesday, May 7th. The medical device company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.41). The firm had revenue of $188.61 million during the quarter, compared to the consensus estimate of $183.40 million. Orthofix Medical had a negative return on equity of 14.24% and a negative net margin of 16.64%. As a group, equities analysts predict that Orthofix Medical Inc. will post -1.72 EPS for the current year.

Institutional Trading of Orthofix Medical

Several large investors have recently added to or reduced their stakes in OFIX. GSA Capital Partners LLP purchased a new stake in shares of Orthofix Medical in the 1st quarter worth about $921,000. Engine Capital Management LP purchased a new stake in Orthofix Medical in the fourth quarter worth about $40,916,000. Jump Financial LLC bought a new stake in Orthofix Medical during the 4th quarter valued at approximately $1,445,000. Boone Capital Management LLC bought a new stake in Orthofix Medical during the 4th quarter valued at approximately $6,740,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Orthofix Medical by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 461,885 shares of the medical device company’s stock worth $6,226,000 after acquiring an additional 32,400 shares during the period. 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.