RTI Surgical, Inc. (NASDAQ:RTIX) Posts Earnings Results, Meets Expectations
RTI Surgical, Inc. (NASDAQ:RTIX) announced its quarterly earnings data on Tuesday. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02, Briefing.com reports. RTI Surgical had a negative net margin of 6.85% and a positive return on equity of 1.34%. The company had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $70.25 million. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. RTI Surgical updated its FY17 guidance to 0.04-0.08 EPS.
RTI Surgical (RTIX) traded down 8.18% during midday trading on Tuesday, reaching $5.05. 270,232 shares of the company were exchanged. The company has a 50-day moving average of $5.60 and a 200 day moving average of $4.40. The firm’s market capitalization is $293.54 million. RTI Surgical has a 52 week low of $2.50 and a 52 week high of $6.00.
A number of equities research analysts have recently issued reports on RTIX shares. ValuEngine raised shares of RTI Surgical from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet raised shares of RTI Surgical from a “d+” rating to a “c-” rating in a research note on Friday, May 5th. Zacks Investment Research raised shares of RTI Surgical from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, BidaskClub cut shares of RTI Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday.
In other news, CEO Camille Farhat acquired 61,693 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of $4.65 per share, for a total transaction of $286,872.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RTIX. Cigna Investments Inc. New purchased a new stake in RTI Surgical during the second quarter valued at $105,000. First Quadrant L P CA purchased a new stake in RTI Surgical during the second quarter valued at $137,000. Nine Chapters Capital Management LLC increased its stake in RTI Surgical by 75.9% in the first quarter. Nine Chapters Capital Management LLC now owns 35,000 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 15,100 shares during the last quarter. American International Group Inc. increased its stake in RTI Surgical by 7.0% in the first quarter. American International Group Inc. now owns 35,371 shares of the medical equipment provider’s stock valued at $141,000 after buying an additional 2,327 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in RTI Surgical by 6.4% in the first quarter. Bank of America Corp DE now owns 39,786 shares of the medical equipment provider’s stock valued at $159,000 after buying an additional 2,389 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “RTI Surgical, Inc. (NASDAQ:RTIX) Posts Earnings Results, Meets Expectations” was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/08/rti-surgical-inc-nasdaqrtix-posts-earnings-results-meets-expectations.html.
RTI Surgical Company Profile
RTI Surgical, Inc is engaged in producing orthopedic and other surgical implants that repair and promote the natural healing of human bone and other human tissues. The Company uses natural tissues, metals and synthetics process to produce its products. The Company’s business primarily consists of six categories, such as spine, sports medicine, ortho fixation, bone graft substitutes and general orthopedic (BGS and general orthopedic), dental and surgical specialties.
Receive News & Ratings for RTI Surgical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RTI Surgical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.