Orthofix Medical (NASDAQ:OFIX) Upgraded by Roth Mkm to Buy

Orthofix Medical (NASDAQ:OFIX) was upgraded by investment analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $20.00 target price on the medical device company’s stock, up from their prior target price of $15.00. Roth Mkm’s target price suggests a potential upside of 43.99% from the stock’s current price.

OFIX has been the subject of several other research reports. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. StockNews.com downgraded shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.00.

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX opened at $13.89 on Wednesday. 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 company has a 50-day moving average price of $13.63 and a 200 day moving average price of $13.02. Orthofix Medical has a 52 week low of $9.57 and a 52 week high of $21.60. The company has a market cap of $519.62 million, a P/E ratio of -3.36 and a beta of 1.06.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.01. The firm had revenue of $200.42 million for the quarter. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%. Research analysts predict that Orthofix Medical will post -1.51 earnings per share for the current year.

Institutional Investors Weigh In On Orthofix Medical

Large investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP lifted its holdings in shares of Orthofix Medical by 55.2% in the fourth quarter. Gladius Capital Management LP now owns 2,841 shares of the medical device company’s stock valued at $38,000 after purchasing an additional 1,010 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Orthofix Medical by 30.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock worth $101,000 after purchasing an additional 1,752 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Orthofix Medical in the 3rd quarter valued at approximately $130,000. Arizona State Retirement System acquired a new stake in Orthofix Medical during the 4th quarter valued at $138,000. Finally, Teza Capital Management LLC purchased a new position in Orthofix Medical during the third quarter worth $133,000. 89.76% of the stock is owned by institutional investors and hedge funds.

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.