Orthofix Medical (NASDAQ:OFIX) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Orthofix Medical (NASDAQ:OFIX – Get Rating) in a research note issued on Sunday. The firm set a “buy” rating on the medical device company’s stock.

Orthofix Medical Stock Up 1.6 %

NASDAQ OFIX opened at $19.87 on Friday. The stock has a fifty day moving average of $17.81 and a 200-day moving average of $18.92. The stock has a market capitalization of $726.05 million, a P/E ratio of -8.04 and a beta of 0.87. Orthofix Medical has a 52 week low of $13.76 and a 52 week high of $27.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.37 and a current ratio of 2.98.

Orthofix Medical (NASDAQ:OFIX – Get Rating) last announced its quarterly earnings data on Monday, March 6th. The medical device company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.56. Orthofix Medical had a negative return on equity of 2.14% and a negative net margin of 14.40%. The business had revenue of $122.23 million during the quarter, compared to analysts’ expectations of $121.90 million. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts forecast that Orthofix Medical will post -2.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Shweta Maniar sold 4,262 shares of Orthofix Medical stock in a transaction on Friday, March 10th. The stock was sold at an average price of $17.75, for a total transaction of $75,650.50. Following the completion of the sale, the director now directly owns 20,080 shares of the company’s stock, valued at $356,420. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Orthofix Medical

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in Orthofix Medical in the first quarter valued at about $39,000. CWM LLC grew its stake in Orthofix Medical by 433.4% in the fourth quarter. CWM LLC now owns 1,947 shares of the medical device company’s stock valued at $40,000 after acquiring an additional 1,582 shares during the period. KBC Group NV grew its stake in Orthofix Medical by 87.1% in the first quarter. KBC Group NV now owns 2,879 shares of the medical device company’s stock valued at $48,000 after acquiring an additional 1,340 shares during the period. UBS Group AG grew its stake in Orthofix Medical by 2,120.8% in the third quarter. UBS Group AG now owns 2,776 shares of the medical device company’s stock valued at $53,000 after acquiring an additional 2,651 shares during the period. Finally, US Bancorp DE acquired a new position in Orthofix Medical in the third quarter valued at about $57,000. 98.43% of the stock is owned by institutional investors and hedge funds.

About Orthofix Medical

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Orthofix Medical, Inc engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion.