Roth Mkm Reaffirms Buy Rating for Orthofix Medical (NASDAQ:OFIX)

Roth Mkm reiterated their buy rating on shares of Orthofix Medical (NASDAQ:OFIX) in a research report sent to investors on Friday,Benzinga reports. Roth Mkm currently has a $22.00 price target on the medical device company’s stock, up from their previous price target of $20.00.

Separately, Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and lifted their target price for the company from $18.00 to $24.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.00.

Orthofix Medical Price Performance

OFIX traded up $1.19 on Friday, hitting $19.41. 673,214 shares of the company’s stock traded hands, compared to its average volume of 220,470. The company’s 50 day simple moving average is $16.24 and its 200-day simple moving average is $15.27. The firm has a market cap of $740.88 million, a price-to-earnings ratio of -6.08 and a beta of 1.05. Orthofix Medical has a one year low of $9.57 and a one year high of $19.79. The company has a current ratio of 2.48, a quick ratio of 1.13 and a debt-to-equity ratio of 0.24.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.58). The business had revenue of $198.62 million for the quarter, compared to the consensus estimate of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. As a group, research analysts anticipate that Orthofix Medical will post -2.13 EPS for the current year.

Institutional Trading of Orthofix Medical

A number of large investors have recently added to or reduced their stakes in OFIX. nVerses Capital LLC bought a new stake in Orthofix Medical in the 2nd quarter worth approximately $27,000. Quest Partners LLC bought a new stake in Orthofix Medical in the 2nd quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Orthofix Medical by 25.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after acquiring an additional 1,919 shares during the last quarter. Arizona State Retirement System bought a new stake in Orthofix Medical in the 2nd quarter worth approximately $139,000. Finally, XTX Topco Ltd purchased a new position in shares of Orthofix Medical in the 2nd quarter worth approximately $175,000. 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.