Orthofix Medical (NASDAQ:OFIX) Shares Gap Up to $14.59

Orthofix Medical Inc. (NASDAQ:OFIX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.59, but opened at $16.42. Orthofix Medical shares last traded at $16.34, with a volume of 21,929 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Roth Capital upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 8th. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. Finally, Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $20.00 in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Orthofix Medical currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Orthofix Medical Stock Performance

The stock has a market cap of $656.01 million, a price-to-earnings ratio of -5.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.19 and a current ratio of 2.65. The company’s 50 day simple moving average is $14.30 and its 200 day simple moving average is $14.07.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Tuesday, May 7th. The medical device company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.41). The business had revenue of $188.61 million during the quarter, compared to analyst estimates of $183.40 million. Orthofix Medical had a negative return on equity of 14.24% and a negative net margin of 16.64%. On average, equities research analysts anticipate that Orthofix Medical Inc. will post -1.72 earnings per share for the current year.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds have recently made changes to their positions in OFIX. nVerses Capital LLC acquired a new position in shares of Orthofix Medical in the second quarter worth about $27,000. Gladius Capital Management LP boosted 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 worth $38,000 after buying an additional 1,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 worth $101,000 after purchasing an additional 1,752 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after purchasing an additional 1,919 shares during the period. Finally, Arizona State Retirement System acquired a new stake in shares of Orthofix Medical during the fourth quarter worth approximately $138,000. Institutional investors and hedge funds 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.