Orthofix Medical (NASDAQ:OFIX) Stock Rating Reaffirmed by JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a research note issued to investors on Monday, Benzinga reports.

A number of other equities analysts have also issued reports on OFIX. Roth Mkm raised their price target on shares of Orthofix Medical from $12.00 to $15.00 and gave the stock a neutral rating in a research report on Thursday, March 7th. StockNews.com cut shares of Orthofix Medical from a hold rating to a sell rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $15.50.

Orthofix Medical Price Performance

OFIX stock opened at $13.10 on Monday. The firm has a 50 day moving average of $13.71 and a 200 day moving average of $12.93. 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 has a 52 week low of $9.57 and a 52 week high of $21.60.

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

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently added to or reduced their stakes in OFIX. SG Americas Securities LLC purchased a new stake in shares of Orthofix Medical during the third quarter worth $305,000. Principal Financial Group Inc. grew its holdings in shares of Orthofix Medical by 2.2% in the third quarter. Principal Financial Group Inc. now owns 214,346 shares of the medical device company’s stock valued at $2,756,000 after purchasing an additional 4,531 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Orthofix Medical by 358.6% in the third quarter. Assenagon Asset Management S.A. now owns 568,531 shares of the medical device company’s stock valued at $7,311,000 after purchasing an additional 444,573 shares during the period. Versor Investments LP purchased a new stake in shares of Orthofix Medical in the third quarter valued at about $186,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Orthofix Medical in the third quarter valued at about $288,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

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.