Orthofix Medical (NASDAQ:OFIX) Raised to "Buy" at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Orthofix Medical (NASDAQ:OFIX - Free Report) from a hold rating to a buy rating in a report issued on Friday, Marketbeat Ratings reports. The firm currently has $24.00 price objective on the medical device company's stock, up from their previous price objective of $18.00.

Orthofix Medical Stock Up 6.4 %

Shares of OFIX traded up $1.16 during trading hours on Friday, reaching $19.38. The company's stock had a trading volume of 617,689 shares, compared to its average volume of 326,322. The company has a quick ratio of 1.13, a current ratio of 2.48 and a debt-to-equity ratio of 0.24. The firm has a market cap of $739.83 million, a price-to-earnings ratio of -6.11 and a beta of 1.05. The company has a 50 day moving average of $16.20 and a two-hundred day moving average of $15.23. Orthofix Medical has a 1-year low of $9.57 and a 1-year high of $19.79.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share 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 firm had revenue of $198.62 million for the quarter, compared to analysts' expectations of $195.75 million. As a group, research analysts predict that Orthofix Medical will post -2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently bought and sold shares of the business. Paradigm Capital Management Inc. NY lifted its position in shares of Orthofix Medical by 31.3% in the second 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 last quarter. Engine Capital Management LP boosted its position in Orthofix Medical by 11.0% during the second quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company's stock worth $44,668,000 after purchasing an additional 333,364 shares during the period. Marshall Wace LLP acquired a new position in Orthofix Medical during the second quarter valued at approximately $2,193,000. AYAL Capital Advisors Ltd lifted its stake in shares of Orthofix Medical by 10.2% in the second 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 last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Orthofix Medical during the 2nd quarter worth $832,000. 89.76% of the stock is currently owned by 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.