Orthofix Medical (NASDAQ:OFIX) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Orthofix Medical (NASDAQ:OFIXGet Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

OFIX has been the subject of several other reports. TheStreet downgraded shares of Orthofix Medical from a c- rating to a d rating in a report on Friday, February 25th. Zacks Investment Research cut shares of Orthofix Medical from a buy rating to a hold rating in a research note on Thursday, March 3rd. Finally, Stifel Nicolaus upgraded shares of Orthofix Medical from a hold rating to a buy rating and upped their target price for the company from $41.00 to $45.00 in a research note on Friday, March 4th.

NASDAQ OFIX opened at $27.18 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 1.88 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $31.84 and a 200 day simple moving average of $31.91. The company has a market cap of $539.60 million, a P/E ratio of -14.61 and a beta of 0.96. Orthofix Medical has a 1 year low of $26.13 and a 1 year high of $43.30.

Orthofix Medical (NASDAQ:OFIXGet Rating) last posted its quarterly earnings data on Friday, February 25th. The medical device company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.14. The business had revenue of $125.06 million during the quarter, compared to the consensus estimate of $124.90 million. Orthofix Medical had a negative net margin of 7.96% and a positive return on equity of 3.34%. During the same period in the prior year, the firm earned $0.44 EPS. Equities research analysts forecast that Orthofix Medical will post 0.59 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Orthofix Medical in the 4th quarter valued at $4,854,000. BlackRock Inc. raised its stake in shares of Orthofix Medical by 4.8% in the 4th quarter. BlackRock Inc. now owns 3,393,759 shares of the medical device company’s stock valued at $105,513,000 after buying an additional 155,154 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Orthofix Medical by 6.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 2,614,010 shares of the medical device company’s stock valued at $99,644,000 after buying an additional 153,677 shares in the last quarter. Heartland Advisors Inc. raised its stake in shares of Orthofix Medical by 53.6% in the 4th quarter. Heartland Advisors Inc. now owns 357,800 shares of the medical device company’s stock valued at $11,124,000 after buying an additional 124,800 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Orthofix Medical in the 4th quarter valued at $2,673,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

About Orthofix Medical (Get Rating)

Orthofix Medical Inc operates as a medical device and biologics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion, as well as used as a therapeutic treatment for non-spinal and appendicular fractures.

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