Orthofix Medical (NASDAQ:OFIX) Stock Price Passes Above 200-Day Moving Average of $12.90

Orthofix Medical Inc. (NASDAQ:OFIX) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.90 and traded as high as $13.25. Orthofix Medical shares last traded at $13.10, with a volume of 285,114 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on OFIX. StockNews.com downgraded shares of Orthofix Medical from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Roth Mkm lifted their target price on shares of Orthofix Medical from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th.

Orthofix Medical Trading Up 0.6 %

The firm’s fifty day moving average price is $13.75 and its 200-day moving average price is $12.90. The company has a current ratio of 2.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.01. Orthofix Medical had a negative net margin of 20.28% and a negative return on equity of 10.63%. The company had revenue of $200.42 million for the quarter. On average, research analysts expect that Orthofix Medical Inc. will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of Orthofix Medical by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 48,336 shares of the medical device company’s stock valued at $1,138,000 after acquiring an additional 485 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Orthofix Medical by 4.6% during the 2nd quarter. Osaic Holdings Inc. now owns 12,415 shares of the medical device company’s stock valued at $224,000 after acquiring an additional 546 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Orthofix Medical by 23.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,960 shares of the medical device company’s stock valued at $53,000 after acquiring an additional 570 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Orthofix Medical by 5.4% during the 4th quarter. MetLife Investment Management LLC now owns 11,204 shares of the medical device company’s stock valued at $230,000 after acquiring an additional 570 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Orthofix Medical by 0.5% during the 1st quarter. Invesco Ltd. now owns 127,356 shares of the medical device company’s stock valued at $4,164,000 after acquiring an additional 632 shares in the last quarter. 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.