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

RTI Surgical (NASDAQ:RTIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Other research analysts have also recently issued reports about the company. ValuEngine cut RTI Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet lowered RTI Surgical from a “c-” rating to a “d+” rating in a research report on Thursday, October 24th. Finally, Sidoti assumed coverage on RTI Surgical in a research note on Monday, September 16th. They issued a “buy” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. RTI Surgical presently has an average rating of “Buy” and a consensus target price of $6.13.

RTIX stock traded up $0.10 during midday trading on Wednesday, hitting $1.90. The company’s stock had a trading volume of 4,200 shares, compared to its average volume of 221,918. The firm has a 50-day simple moving average of $2.21 and a 200-day simple moving average of $3.34. The firm has a market capitalization of $132.88 million, a P/E ratio of 15.83 and a beta of 1.25. RTI Surgical has a 52-week low of $1.77 and a 52-week high of $6.15.

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

Several large investors have recently made changes to their positions in RTIX. Strs Ohio grew its stake in shares of RTI Surgical by 7.5% during the second quarter. Strs Ohio now owns 118,700 shares of the medical equipment provider’s stock worth $504,000 after purchasing an additional 8,300 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in RTI Surgical in the second quarter valued at approximately $506,000. Meeder Asset Management Inc. boosted its holdings in shares of RTI Surgical by 78.7% in the second quarter. Meeder Asset Management Inc. now owns 10,505 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 4,627 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of RTI Surgical by 44.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 150,106 shares of the medical equipment provider’s stock valued at $638,000 after acquiring an additional 46,141 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of RTI Surgical by 11.6% during the second quarter. Wells Fargo & Company MN now owns 113,200 shares of the medical equipment provider’s stock worth $480,000 after acquiring an additional 11,796 shares during the last quarter. 60.06% of the stock is currently owned by 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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