Orthofix Medical (NASDAQ:OFIX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Orthofix Medical (NASDAQ:OFIX – Get Rating) in a research note published on Saturday. The brokerage issued a buy rating on the medical device company’s stock.

Orthofix Medical Stock Down 5.9 %

OFIX traded down $1.05 during trading hours on Friday, hitting $16.83. The stock had a trading volume of 844,551 shares, compared to its average volume of 294,184. The company’s fifty day simple moving average is $20.17 and its 200 day simple moving average is $19.11. Orthofix Medical has a 1 year low of $13.76 and a 1 year high of $35.34. The company has a current ratio of 3.06, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06.

Orthofix Medical (NASDAQ:OFIX – Get Rating) last announced its quarterly earnings data on Monday, March 6th. The medical device company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.56. Orthofix Medical had a positive return on equity of 1.67% and a negative net margin of 4.29%. The company had revenue of $122.23 million during the quarter, compared to analyst estimates of $121.90 million. During the same quarter last year, the firm posted $0.27 EPS. Analysts predict that Orthofix Medical will post -1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OFIX. Citigroup Inc. grew its holdings in Orthofix Medical by 6.5% during the 1st quarter. Citigroup Inc. now owns 19,225 shares of the medical device company’s stock valued at $629,000 after buying an additional 1,165 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Orthofix Medical by 7.2% during the 1st quarter. Bank of Montreal Can now owns 29,057 shares of the medical device company’s stock valued at $968,000 after acquiring an additional 1,957 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Orthofix Medical by 62.6% during the 1st quarter. MetLife Investment Management LLC now owns 12,303 shares of the medical device company’s stock valued at $402,000 after acquiring an additional 4,736 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Orthofix Medical by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,022 shares of the medical device company’s stock valued at $557,000 after acquiring an additional 2,099 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Orthofix Medical by 0.9% during the 1st quarter. BlackRock Inc. now owns 3,424,088 shares of the medical device company’s stock valued at $111,968,000 after acquiring an additional 30,329 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

About Orthofix Medical

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Orthofix Medical, Inc engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion.