Orthofix Medical (NASDAQ:OFIX) Reaches New 12-Month High - Should You Buy?

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.68 and last traded at $17.56, with a volume of 42318 shares trading hands. The stock had previously closed at $16.96.

Orthofix Medical Price Performance

The firm has a market capitalization of $661.57 million, a P/E ratio of -5.43 and a beta of 1.05. The firm has a 50 day moving average price of $16.15 and a 200-day moving average price of $15.12. The company has a current ratio of 2.48, a quick ratio of 1.13 and a debt-to-equity ratio of 0.24.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.58). Orthofix Medical had a negative return on equity of 20.68% and a negative net margin of 15.61%. The business had revenue of $198.62 million for the quarter, compared to the consensus estimate of $195.75 million. On average, analysts expect that Orthofix Medical Inc. will post -2.13 earnings per share for the current year.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of the business. Paradigm Capital Management Inc. NY lifted its holdings in shares of Orthofix Medical by 31.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company's stock worth $33,894,000 after buying an additional 609,137 shares during the period. Engine Capital Management LP lifted its holdings in shares of Orthofix Medical by 11.0% in the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company's stock worth $44,668,000 after buying an additional 333,364 shares during the period. Marshall Wace LLP purchased a new stake in shares of Orthofix Medical in the 2nd quarter worth $2,193,000. AYAL Capital Advisors Ltd lifted its holdings in shares of Orthofix Medical by 10.2% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company's stock worth $9,107,000 after buying an additional 63,697 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Orthofix Medical in the 1st quarter worth $921,000. 89.76% of the stock is owned by institutional investors.

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.