Orthofix Medical (NASDAQ:OFIX) Shares Gap Down to $13.46

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.46, but opened at $12.59. Orthofix Medical shares last traded at $13.64, with a volume of 445,537 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. StockNews.com lowered shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Roth Mkm lifted their price target on Orthofix Medical from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.50.

Orthofix Medical Stock Performance

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 company has a market cap of $519.62 million, a PE ratio of -3.36 and a beta of 1.06. The firm’s fifty day moving average is $13.62 and its 200 day moving average is $13.00.

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 business 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%. As a group, research analysts predict that Orthofix Medical Inc. will post -1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank lifted its holdings in Orthofix Medical by 1.3% in the 3rd quarter. Swiss National Bank now owns 76,400 shares of the medical device company’s stock valued at $983,000 after purchasing an additional 1,000 shares in the last quarter. Gladius Capital Management LP raised its position 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 valued at $38,000 after buying an additional 1,010 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake 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 worth $1,175,000 after buying an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 acquiring an additional 1,752 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Orthofix Medical by 2.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 161,376 shares of the medical device company’s stock valued at $2,075,000 after acquiring an additional 3,498 shares in the last quarter. Hedge funds and other institutional investors 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.