Zacks Investment Research Lowers RTI Surgical (RTIX) to Hold

Zacks Investment Research downgraded shares of RTI Surgical (NASDAQ:RTIX) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “RTI Surgical Inc. is a surgical implant company. Its implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures. RTI Surgical Inc., formerly known as RTI Biologics, Inc., is headquartered in Alachua, Fla. “

RTIX has been the topic of several other research reports. BidaskClub raised shares of RTI Surgical from a hold rating to a buy rating in a research report on Tuesday, October 16th. ValuEngine downgraded shares of RTI Surgical from a buy rating to a hold rating in a report on Tuesday, November 27th.

NASDAQ:RTIX traded down $0.03 during trading hours on Thursday, hitting $4.29. 310,088 shares of the company were exchanged, compared to its average volume of 108,339. The company has a market cap of $272.25 million, a PE ratio of 42.90 and a beta of 1.33. RTI Surgical has a 52-week low of $3.51 and a 52-week high of $5.10. The company has a current ratio of 3.59, a quick ratio of 1.35 and a debt-to-equity ratio of 0.27.

RTI Surgical (NASDAQ:RTIX) last released its earnings results on Thursday, November 1st. The medical equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $69.06 million for the quarter, compared to the consensus estimate of $70.09 million. RTI Surgical had a negative net margin of 3.91% and a positive return on equity of 4.04%. As a group, analysts expect that RTI Surgical will post 0.11 EPS for the current fiscal year.

In other RTI Surgical news, CEO Camille Farhat acquired 17,185 shares of the company’s stock in a transaction dated Thursday, December 6th. The shares were acquired at an average cost of $4.04 per share, with a total value of $69,427.40. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jonathon M. Singer acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, December 12th. The stock was acquired at an average cost of $4.28 per share, for a total transaction of $214,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 264,844 shares in the company, valued at $1,133,532.32. The disclosure for this purchase can be found here. Insiders bought a total of 78,701 shares of company stock worth $327,764 over the last ninety days. Insiders own 4.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in RTIX. Citadel Advisors LLC boosted its holdings in shares of RTI Surgical by 70.9% in the 3rd quarter. Citadel Advisors LLC now owns 35,571 shares of the medical equipment provider’s stock valued at $160,000 after acquiring an additional 14,760 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of RTI Surgical in the 3rd quarter valued at $297,000. Schwab Charles Investment Management Inc. lifted its stake in shares of RTI Surgical by 16.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 125,900 shares of the medical equipment provider’s stock valued at $580,000 after purchasing an additional 17,600 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of RTI Surgical by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 245,573 shares of the medical equipment provider’s stock valued at $1,130,000 after purchasing an additional 14,806 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of RTI Surgical by 299.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 307,067 shares of the medical equipment provider’s stock valued at $1,383,000 after purchasing an additional 230,103 shares during the period. 69.79% of the stock is currently owned by institutional investors and hedge funds.

RTI Surgical Company Profile

RTI Surgical, Inc, together with its subsidiaries, designs, develops, manufactures, and distributes biologic, metal, and synthetic implants worldwide. It processes donated human musculoskeletal and other tissues, as well as bovine and porcine animal tissues to produce allograft and xenograft implants by using its proprietary BIOCLEANSE, TUTOPLAST, and CANCELLE SP sterilization processes.

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