RTI Surgical (NASDAQ:RTIX) Downgraded by Zacks Investment Research

RTI Surgical (NASDAQ:RTIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “RTI Surgical Inc. is a surgical implant company. Its implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures. RTI Surgical Inc., formerly known as RTI Biologics, Inc., is headquartered in Alachua, Fla. “

Separately, Cantor Fitzgerald started coverage on RTI Surgical in a report on Wednesday, May 29th. They set an “overweight” rating and a $7.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. RTI Surgical currently has an average rating of “Hold” and a consensus price target of $6.50.

NASDAQ:RTIX traded down $0.04 on Tuesday, reaching $3.43. The stock had a trading volume of 7,221 shares, compared to its average volume of 102,081. The company has a 50-day moving average of $3.46 and a 200 day moving average of $4.54. The company has a current ratio of 3.14, a quick ratio of 1.22 and a debt-to-equity ratio of 0.27. The stock has a market cap of $238.69 million, a P/E ratio of 28.58 and a beta of 1.40. RTI Surgical has a 12-month low of $2.95 and a 12-month high of $6.15.

RTI Surgical (NASDAQ:RTIX) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. RTI Surgical had a positive return on equity of 3.55% and a negative net margin of 1.08%. The business had revenue of $82.31 million for the quarter. On average, equities analysts predict that RTI Surgical will post 0.02 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rutabaga Capital Management LLC MA grew its holdings in RTI Surgical by 54.7% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 911,417 shares of the medical equipment provider’s stock worth $5,478,000 after acquiring an additional 322,143 shares in the last quarter. BlackRock Inc. lifted its position in shares of RTI Surgical by 5.4% during the second quarter. BlackRock Inc. now owns 5,352,990 shares of the medical equipment provider’s stock worth $22,751,000 after purchasing an additional 271,851 shares during the last quarter. EAM Global Investors LLC bought a new position in shares of RTI Surgical during the first quarter worth about $1,568,000. Citadel Advisors LLC acquired a new position in RTI Surgical in the second quarter worth about $554,000. Finally, Dupont Capital Management Corp acquired a new position in RTI Surgical in the second quarter worth about $506,000. 58.79% of the stock is currently owned by hedge funds and other institutional investors.

RTI Surgical Company Profile

RTI Surgical Holdings, Inc, a surgical implant company, designs, develops, manufactures, and distributes biologic, metal, and synthetic implants worldwide. It processes donated human musculoskeletal and other tissues, as well as bovine and porcine animal tissues to produce allograft and xenograft implants by using its proprietary BIOCLEANSE, TUTOPLAST, and CANCELLE SP sterilization processes.

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