Orthofix Medical (NASDAQ:OFIX) Rating Increased to Buy at Roth Capital

Roth Capital upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a neutral rating to a buy rating in a research report released on Wednesday, Zacks.com reports. Roth Capital also issued estimates for Orthofix Medical’s Q1 2024 earnings at ($0.55) EPS, Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($1.06) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.20 EPS.

Other equities analysts also recently issued research reports about the stock. Roth Mkm upgraded shares of Orthofix Medical from a neutral rating to a buy rating and increased their price target for the company from $15.00 to $20.00 in a report on Wednesday. StockNews.com raised shares of Orthofix Medical from a sell rating to a hold rating in a report on Wednesday. Finally, JMP Securities reiterated a market perform rating on shares of Orthofix Medical in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $18.00.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $14.90 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $13.66 and a 200-day simple moving average of $13.03. The company has a market cap of $557.41 million, a price-to-earnings ratio of -3.60 and a beta of 1.06. Orthofix Medical has a 12-month low of $9.57 and a 12-month high of $21.60.

Orthofix Medical (NASDAQ:OFIX) last released 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 return on equity of 10.63% and a negative net margin of 20.28%. The firm had revenue of $200.42 million during the quarter. On average, equities analysts forecast that Orthofix Medical will post -1.51 EPS for the current year.

Hedge Funds Weigh In On Orthofix Medical

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

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.