Orthofix Medical (NASDAQ:OFIX) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.03 and traded as high as $16.31. Orthofix Medical shares last traded at $16.18, with a volume of 174,052 shares.

Orthofix Medical Stock Performance

The stock's 50-day moving average is $16.17 and its 200 day moving average is $15.05. The stock has a market cap of $624.46 million, a price-to-earnings ratio of -5.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last issued its 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). The business had revenue of $198.62 million for the quarter, compared to analysts' expectations of $195.75 million. Orthofix Medical had a negative return on equity of 20.68% and a negative net margin of 15.61%. As a group, analysts predict that Orthofix Medical Inc. will post -2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC lifted its stake in shares of Orthofix Medical by 1.4% in the second quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company's stock valued at $49,725,000 after purchasing an additional 50,000 shares during the period. Rubric Capital Management LP lifted its position in shares of Orthofix Medical by 0.8% during the 2nd quarter. Rubric Capital Management LP now owns 3,694,946 shares of the medical device company's stock valued at $48,995,000 after acquiring an additional 29,946 shares during the period. Engine Capital Management LP boosted its stake in shares of Orthofix Medical by 11.0% during 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 acquiring an additional 333,364 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Orthofix Medical by 31.3% during 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 acquiring an additional 609,137 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Orthofix Medical by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company's stock worth $29,168,000 after acquiring an additional 9,150 shares during the period. 89.76% of the stock is 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.