Orthofix Medical (NASDAQ:OFIX) Sets New 52-Week High – Time to Buy?

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $17.68 and last traded at $17.56, with a volume of 42318 shares trading hands. The stock had previously closed at $16.96.

Orthofix Medical Trading Up 1.0 %

The business has a 50 day moving average of $16.16 and a 200-day moving average of $15.18. The stock has a market cap of $682.48 million, a PE ratio of -5.55 and a beta of 1.05. 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 quarterly earnings data 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). Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. The company had revenue of $198.62 million during the quarter, compared to analysts’ expectations of $195.75 million. On average, analysts anticipate that Orthofix Medical Inc. will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Orthofix Medical by 3.3% in the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after acquiring an additional 2,074 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Orthofix Medical in the 3rd quarter worth about $312,000. Assenagon Asset Management S.A. purchased a new stake in Orthofix Medical in the 3rd quarter valued at about $216,000. Inspire Investing LLC acquired a new position in shares of Orthofix Medical during the 3rd quarter valued at about $417,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Orthofix Medical by 74.0% during the 3rd quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock worth $267,000 after acquiring an additional 7,278 shares during the period. Institutional investors and hedge funds 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.