Orthofix Medical (NASDAQ:OFIX) Hits New 12-Month High – Still a Buy?

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $17.68 and last traded at $17.56, with a volume of 42318 shares trading hands. The stock had previously closed at $16.96.

Orthofix Medical Trading Up 3.7 %

The company has a market cap of $671.50 million, a PE ratio of -5.50 and a beta of 1.05. The stock’s 50 day moving average is $16.15 and its 200-day moving average is $15.12. The company has a quick ratio of 1.13, a current ratio of 2.48 and a debt-to-equity ratio of 0.24.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.58). The business had revenue of $198.62 million for the quarter, compared to analysts’ expectations of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. As a group, sell-side analysts anticipate that Orthofix Medical Inc. will post -2.13 EPS for the current year.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds have recently bought and sold shares of OFIX. nVerses Capital LLC bought a new position in Orthofix Medical during the second quarter valued at $27,000. Quest Partners LLC bought a new position in Orthofix Medical during the second quarter valued at $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Orthofix Medical by 25.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after acquiring an additional 1,919 shares during the last quarter. Arizona State Retirement System bought a new position in Orthofix Medical during the second quarter valued at $139,000. Finally, XTX Topco Ltd bought a new position in Orthofix Medical during the second quarter valued at $175,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Company Profile

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.