RTI Surgical (RTIX) Sets New 52-Week High Following Earnings Beat

RTI Surgical Inc (NASDAQ:RTIX)’s share price hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $5.25 and last traded at $5.02, with a volume of 11499 shares trading hands. The stock had previously closed at $4.77.

The medical equipment provider reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. RTI Surgical had a negative net margin of 3.91% and a positive return on equity of 4.04%.

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Several research firms have recently weighed in on RTIX. ValuEngine upgraded shares of RTI Surgical from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub cut shares of RTI Surgical from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research cut shares of RTI Surgical from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th.

In related news, CFO Jonathon M. Singer purchased 50,000 shares of RTI Surgical stock in a transaction on Wednesday, December 12th. The stock was acquired at an average cost of $4.28 per share, for a total transaction of $214,000.00. Following the completion of the acquisition, the chief financial officer now owns 264,844 shares of the company’s stock, valued at approximately $1,133,532.32. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Camille Farhat purchased 17,185 shares of RTI Surgical stock in a transaction on Thursday, December 6th. The stock was bought at an average price of $4.04 per share, with a total value of $69,427.40. The disclosure for this purchase can be found here. Insiders acquired 78,701 shares of company stock valued at $327,764 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in shares of RTI Surgical by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 344,942 shares of the medical equipment provider’s stock valued at $1,276,000 after buying an additional 2,891 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of RTI Surgical by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 238,598 shares of the medical equipment provider’s stock valued at $883,000 after buying an additional 4,626 shares during the last quarter. Mackay Shields LLC acquired a new position in shares of RTI Surgical during the fourth quarter valued at about $42,000. Northern Trust Corp grew its holdings in shares of RTI Surgical by 1.9% during the fourth quarter. Northern Trust Corp now owns 685,448 shares of the medical equipment provider’s stock valued at $2,537,000 after buying an additional 12,463 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of RTI Surgical by 70.9% during the third quarter. Citadel Advisors LLC now owns 35,571 shares of the medical equipment provider’s stock valued at $160,000 after buying an additional 14,760 shares during the last quarter. Institutional investors and hedge funds own 70.87% of the company’s stock.

The firm has a market cap of $299.53 million, a PE ratio of 48.10 and a beta of 1.37. The company has a current ratio of 3.59, a quick ratio of 1.35 and a debt-to-equity ratio of 0.27.

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About RTI Surgical (NASDAQ:RTIX)

RTI Surgical, Inc, together with its subsidiaries, 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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