Orthofix Medical (NASDAQ:OFIX) Shares Gap Up to $13.89

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report)'s stock price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Roth Mkm upgraded Orthofix Medical from a "neutral" rating to a "buy" rating and boosted their price target for the company from $15.00 to $20.00 in a research note on Wednesday. StockNews.com lowered shares of Orthofix Medical from a "hold" rating to a "sell" rating in a report on Wednesday, March 6th. Finally, JMP Securities reissued a "market perform" rating on shares of Orthofix Medical in a research report on Monday, April 22nd. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.00.

Orthofix Medical Price Performance

The business's 50-day simple moving average is $13.63 and its two-hundred day simple moving average is $13.02. 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 $557.41 million, a P/E ratio of -3.60 and a beta of 1.06.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) EPS for the quarter, beating 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%. Sell-side analysts expect that Orthofix Medical Inc. will post -1.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OFIX. Tejara Capital Ltd purchased a new position in Orthofix Medical during the third quarter valued at approximately $2,698,000. Assenagon Asset Management S.A. raised its stake in shares of Orthofix Medical by 358.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 568,531 shares of the medical device company's stock worth $7,311,000 after buying an additional 444,573 shares during the period. Algert Global LLC increased its position in shares of Orthofix Medical by 47.7% during the third quarter. Algert Global LLC now owns 138,154 shares of the medical device company's stock worth $1,777,000 after purchasing an additional 44,638 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in Orthofix Medical in the 3rd quarter valued at $364,000. Finally, Vanguard Group Inc. grew its holdings in shares of Orthofix Medical by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,486,073 shares of the medical device company's stock worth $31,971,000 after purchasing an additional 79,793 shares during the period. 89.76% of the stock is 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.