RTI Surgical Trading Up 4.5% After Earnings Beat (RTIX)
RTI Surgical (NASDAQ:RTIX)’s share price was up 4.5% during trading on Thursday following a stronger than expected earnings report, StockRatingsNetwork reports. The company traded as high as $4.00 and last traded at $3.94, with a volume of 69,616 shares trading hands. The stock had previously closed at $3.77.
The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.02. The company had revenue of $60.70 million for the quarter, compared to the consensus estimate of $55.40 million. During the same quarter last year, the company posted $0.02 earnings per share. RTI Surgical’s revenue was up 50.2% compared to the same quarter last year.
A number of research firms have recently commented on RTIX. Analysts at Zacks upgraded shares of RTI Surgical from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 18th. They now have a $4.20 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of RTI Surgical from $3.50 to $4.00 in a research note on Friday, February 14th.
The stock’s 50-day moving average is $3. and its 200-day moving average is $3.45. The company’s market cap is $221.0 million.
RTI Surgical Inc, formerly RTI Biologics, Inc, process human musculoskeletal and other tissue. It also processes bone, cartilage, tendon, ligament, fascia lata, pericardium, sclera and dermal tissue, and bovine animal tissue in producing allograft and xenograft implants utilizing BIOCLEANSE and TUTOPLAST sterilization processes, for distribution to hospitals and surgeons.
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