Orthofix Medical (NASDAQ:OFIX) Shares Gap Up to $13.89

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) gapped up before the market opened on Wednesday . The stock had previously closed at $13.89, but opened at $14.57. Orthofix Medical shares last traded at $15.46, with a volume of 212,979 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on OFIX. Roth Mkm raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $20.00 in a research note on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. Finally, StockNews.com lowered Orthofix Medical from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.00.

Orthofix Medical Price Performance

The company has a quick ratio of 1.20, a current ratio of 2.54 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $13.63 and its two-hundred day simple moving average is $13.02. The stock has a market capitalization of $561.15 million, a P/E ratio of -3.73 and a beta of 1.06.

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, beating analysts’ consensus estimates 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%. As a group, sell-side analysts forecast that Orthofix Medical Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new position in Orthofix Medical during the 1st quarter worth $921,000. Mutual of America Capital Management LLC grew its position in Orthofix Medical by 15.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 175,671 shares of the medical device company’s stock worth $2,551,000 after purchasing an additional 23,324 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Orthofix Medical by 190.5% in the 1st quarter. BNP Paribas Financial Markets now owns 34,602 shares of the medical device company’s stock valued at $502,000 after buying an additional 22,690 shares during the last quarter. Glenview Capital Management LLC bought a new position in shares of Orthofix Medical during the 4th quarter worth approximately $6,740,000. Finally, Boone Capital Management LLC purchased a new position in shares of Orthofix Medical in the 4th quarter worth approximately $6,740,000. 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.