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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OFIX shares. StockNews.com downgraded shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Roth Mkm raised Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $20.00 in a report on Wednesday. Finally, JMP Securities restated a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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 stock has a market cap of $561.15 million, a P/E ratio of -3.73 and a beta of 1.06. The company’s 50 day moving average price is $13.63 and its 200-day moving average price is $13.02.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, March 5th. The medical device company reported ($0.59) EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts expect that Orthofix Medical Inc. will post -1.51 earnings per share for the current year.

Institutional Trading of Orthofix Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFIX. Swiss National Bank grew its holdings in shares of Orthofix Medical by 1.3% during the third quarter. Swiss National Bank now owns 76,400 shares of the medical device company’s stock valued at $983,000 after buying an additional 1,000 shares during the last quarter. Gladius Capital Management LP lifted its position 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 valued at $38,000 after purchasing an additional 1,010 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Orthofix Medical by 1.4% in the third quarter. Gamco Investors INC. ET AL now owns 91,400 shares of the medical device company’s stock valued at $1,175,000 after acquiring an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Orthofix Medical by 30.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,516 shares of the medical device company’s stock valued at $101,000 after acquiring an additional 1,752 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in Orthofix Medical by 2.2% during the third quarter. Mutual of America Capital Management LLC now owns 161,376 shares of the medical device company’s stock worth $2,075,000 after acquiring an additional 3,498 shares during the period. 89.76% of the stock is owned by 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.