Orthofix Medical Inc. (NASDAQ:OFIX) Receives $23.33 Consensus Target Price from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given an average rating of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $23.33.

Several research firms have weighed in on OFIX. Roth Mkm reiterated a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Canaccord Genuity Group began coverage on shares of Orthofix Medical in a report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 target price on the stock. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and boosted their target price for the company from $18.00 to $24.00 in a report on Friday, November 8th.

Insider Transactions at Orthofix Medical

In other news, CEO Massimo Calafiore sold 9,203 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $17.14, for a total value of $157,739.42. Following the transaction, the chief executive officer now directly owns 124,151 shares in the company, valued at approximately $2,127,948.14. This represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares in the company, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,442 shares of company stock worth $436,883. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds have recently added to or reduced their stakes in the business. Engine Capital Management LP lifted its holdings in Orthofix Medical by 2.4% during the 4th quarter. Engine Capital Management LP now owns 3,450,744 shares of the medical device company’s stock worth $60,250,000 after buying an additional 82,079 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Orthofix Medical by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,126,785 shares of the medical device company’s stock worth $37,134,000 after buying an additional 12,286 shares in the last quarter. Juniper Investment Company LLC increased its position in shares of Orthofix Medical by 123.5% in the 4th quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company’s stock valued at $33,824,000 after purchasing an additional 1,070,656 shares during the last quarter. Boone Capital Management LLC increased its position in shares of Orthofix Medical by 13.6% in the 4th quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company’s stock valued at $18,461,000 after purchasing an additional 126,806 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Orthofix Medical by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company’s stock valued at $14,699,000 after purchasing an additional 2,448 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Stock Performance

NASDAQ:OFIX opened at $17.95 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The firm has a market capitalization of $685.87 million, a price-to-earnings ratio of -5.73 and a beta of 1.10. The company’s 50-day moving average is $17.94 and its two-hundred day moving average is $17.33. Orthofix Medical has a 1-year low of $12.08 and a 1-year high of $20.73.

Orthofix Medical Company Profile

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.