Orthofix Medical (NASDAQ:OFIX) Shares Pass Above 200-Day Moving Average of $14.48

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.48 and traded as high as $17.16. Orthofix Medical shares last traded at $17.03, with a volume of 228,742 shares changing hands.

Orthofix Medical Stock Down 4.6 %

The business’s fifty day moving average price is $15.96 and its 200 day moving average price is $14.50. The firm has a market capitalization of $609.47 million, a price-to-earnings ratio of -4.80 and a beta of 1.05. The company has a current ratio of 2.48, a quick ratio of 1.13 and a debt-to-equity ratio of 0.24.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.58). The business had revenue of $198.62 million during the quarter, compared to analyst estimates of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. On average, equities analysts expect that Orthofix Medical Inc. will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Orthofix Medical

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Orthofix Medical during the 1st quarter worth $921,000. Engine Capital Management LP purchased a new stake in shares of Orthofix Medical in the 4th quarter worth about $40,916,000. Jump Financial LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter worth about $1,445,000. Boone Capital Management LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter worth about $6,740,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Orthofix Medical by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 461,885 shares of the medical device company’s stock worth $6,226,000 after buying an additional 32,400 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

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.