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

Zacks Investment Research cut shares of RTI Surgical (NASDAQ:RTIX) from a hold rating to a sell rating in a research note issued to investors on Wednesday, 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. “

RTIX has been the subject of several other reports. ValuEngine lowered shares of RTI Surgical from a buy rating to a hold rating in a report on Tuesday, December 3rd. TheStreet lowered shares of RTI Surgical from a c- rating to a d+ rating in a research note on Thursday, October 24th. Finally, Sidoti began coverage on shares of RTI Surgical in a research note on Monday, September 16th. They issued a buy rating and a $5.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. RTI Surgical currently has an average rating of Buy and an average target price of $6.13.

RTI Surgical stock opened at $2.04 on Wednesday. RTI Surgical has a 52 week low of $1.77 and a 52 week high of $6.15. The stock has a market cap of $140.45 million, a P/E ratio of 17.00 and a beta of 1.25. The stock has a 50 day moving average of $2.16 and a 200-day moving average of $3.30.

RTI Surgical (NASDAQ:RTIX) last issued its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $76.13 million during the quarter. RTI Surgical had a negative net margin of 3.72% and a positive return on equity of 1.75%.

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of RTI Surgical in the 3rd quarter worth approximately $323,000. Zebra Capital Management LLC lifted its stake in RTI Surgical by 242.2% during the third quarter. Zebra Capital Management LLC now owns 38,145 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 26,999 shares during the last quarter. State Street Corp boosted its holdings in RTI Surgical by 2.0% in the third quarter. State Street Corp now owns 1,098,418 shares of the medical equipment provider’s stock worth $3,130,000 after purchasing an additional 21,867 shares during the period. Dupont Capital Management Corp boosted its holdings in RTI Surgical by 4.8% in the third quarter. Dupont Capital Management Corp now owns 124,842 shares of the medical equipment provider’s stock worth $356,000 after purchasing an additional 5,697 shares during the period. Finally, Rhumbline Advisers boosted its holdings in RTI Surgical by 8.7% in the third quarter. Rhumbline Advisers now owns 90,243 shares of the medical equipment provider’s stock worth $257,000 after purchasing an additional 7,253 shares during the period. 60.06% of the stock is currently owned by institutional investors.

About RTI Surgical

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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