Orthofix Medical (NASDAQ:OFIX) Upgraded by Roth Capital to Buy

Orthofix Medical (NASDAQ:OFIX) was upgraded by investment analysts at Roth Capital from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. Roth Capital also issued estimates for Orthofix Medical’s Q1 2024 earnings at ($0.55) EPS, Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($1.06) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.20 EPS.

OFIX has been the topic of several other reports. JMP Securities reissued a “market perform” rating on shares of Orthofix Medical in a research report on Monday, April 22nd. Roth Mkm raised shares of Orthofix Medical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $20.00 in a report on Wednesday. Finally, StockNews.com raised shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

Orthofix Medical Trading Up 7.3 %

OFIX opened at $14.90 on Wednesday. The stock has a market capitalization of $557.41 million, a PE ratio of -3.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.54 and a quick ratio of 1.20. Orthofix Medical has a 12-month low of $9.57 and a 12-month high of $21.60. The firm’s fifty day moving average price is $13.66 and its 200 day moving average price is $13.03.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Tuesday, March 5th. The medical device company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.01. The business had revenue of $200.42 million during the quarter. Orthofix Medical had a negative return on equity of 10.63% and a negative net margin of 20.28%. As a group, research analysts expect that Orthofix Medical will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Orthofix Medical during the third quarter worth about $305,000. Principal Financial Group Inc. increased its stake in shares of Orthofix Medical by 2.2% in the third quarter. Principal Financial Group Inc. now owns 214,346 shares of the medical device company’s stock valued at $2,756,000 after purchasing an additional 4,531 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Orthofix Medical by 358.6% during the third quarter. Assenagon Asset Management S.A. now owns 568,531 shares of the medical device company’s stock valued at $7,311,000 after buying an additional 444,573 shares during the last quarter. Versor Investments LP acquired a new position in shares of Orthofix Medical during the third quarter worth approximately $186,000. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Orthofix Medical during the third quarter worth approximately $288,000. 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.