RTI Surgical At A 52-Week High: What's Driving The Stock?
Zacks Investment Research | Jul 10, 2017 10:17PM ET
Share price of RTI Surgical, Inc. (NASDAQ:RTIX) , based in Alachua, FL, scaled a new 52-week high of $6.00 on Jul 10, eventually closing a bit lower at $5.65. The company has witnessed a consistent rally in its share price, gaining around 39.5% since the announcement of impressive revenue performance in the first quarter of 2017.
Average volume of shares traded over the last one year was remarkable at approximately 268.5K. The stock has a market cap of $330.9 million.
Comparison with Broader Industry
For the majority of the last three months, the company’s share price has considerably outperformed the Zacks categorized Medical - Instruments sub-industry. The stock has rallied 44.9% over this period, outshining the sub-industry’s rise of 10.9%. The company has also outperformed the S&P 3.6% gain.
Taking the stable stock performance into consideration, we expect RTI Surgical to scale higher in the coming quarters.
Positive Surprise
This Zacks Rank #3 (Hold) company delivered a stellar four-quarter positive average earnings surprise of 25.00%.
Growth Catalysts
Investors are upbeat about the company’s recent announcement that it is now part of a U.S. public-private Manufacturing initiative, the Advanced Regenerative Manufacturing Institute (ARMI).ARMI will work under the umbrella of Manufacturing USA, a public-private network that invests in the development of advanced manufacturing technologies.
Also, we are encouraged to note that the company is focused on reducing cost by proper allocation of resources. The company has planned to invest more resources in profitable areas and less in the areas with lower growth potential. On the other hand the company is increasingly focusing on R&D investments.
RTI Surgical, Inc. Price and Consensus
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