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

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

Orthofix Medical Trading Up 3.7 %

The firm has a market capitalization of $671.50 million, a P/E ratio of -5.50 and a beta of 1.05. The stock’s 50-day simple moving average is $16.15 and its two-hundred day simple moving average is $15.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13.

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

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Orthofix Medical by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock worth $479,000 after buying an additional 1,236 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Orthofix Medical by 4.4% in the second quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after buying an additional 1,336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Orthofix Medical by 25.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after buying an additional 1,919 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Orthofix Medical in the second quarter worth $27,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Orthofix Medical by 34.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock worth $197,000 after buying an additional 3,490 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.