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Fly News Breaks for February 26, 2019
OFIX
Feb 26, 2019 | 06:13 EDT
BTIG analyst Ryan Zimmerman downgraded Orthofix to Neutral after its Q4 earnings miss, announcement of CEO retirement, guidance for high spending, an no expected acceleration in Q1 revenue growth. The analyst expects the stock trade range-bound until there is more clarity on commercialization of the company's M6-C disk replacement that was recently approved by the FDA. While he has a positive view of the M6-C program, Zimmerman also believes that the company's expectations for double-digit revenue growth are "ambitious".
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