Orthofix Medical (NASDAQ:OFIX) Earns Buy Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Orthofix Medical (NASDAQ:OFIX - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $22.00 target price on the medical device company's stock, up from their prior target price of $20.00.

Separately, Stifel Nicolaus raised shares of Orthofix Medical from a "hold" rating to a "buy" rating and raised their price target for the company from $18.00 to $24.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $23.00.

Orthofix Medical Price Performance

Shares of OFIX traded up $1.19 during trading hours on Friday, hitting $19.41. The company had a trading volume of 673,214 shares, compared to its average volume of 220,470. The firm has a fifty day moving average price of $16.20 and a 200-day moving average price of $15.23. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $19.79. 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 the consensus estimate of ($0.30) by ($0.58). The firm had revenue of $198.62 million during 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%. On average, research analysts forecast that Orthofix Medical will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Orthofix Medical

A number of hedge funds have recently bought and sold shares of OFIX. Price T Rowe Associates Inc. MD boosted its stake in shares of Orthofix Medical by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company's stock worth $479,000 after buying an additional 1,236 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Orthofix Medical by 4.4% in the second quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company's stock valued at $423,000 after acquiring an additional 1,336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Orthofix Medical by 25.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company's stock worth $125,000 after purchasing an additional 1,919 shares during the last quarter. nVerses Capital LLC purchased a new position in Orthofix Medical in the second quarter worth about $27,000. Finally, Victory Capital Management Inc. grew its stake in shares of Orthofix Medical by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company's stock valued at $1,012,000 after purchasing an additional 2,074 shares during the period. 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.