Orthofix Medical Inc. (NASDAQ:OFIX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.33.

A number of analysts have recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. StockNews.com raised Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th.

Orthofix Medical Stock Performance

Shares of OFIX opened at $16.76 on Thursday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $17.86 and its 200-day moving average price is $17.41. Orthofix Medical has a 52 week low of $12.08 and a 52 week high of $20.73. The stock has a market cap of $654.01 million, a P/E ratio of -5.35 and a beta of 1.06.

Insider Activity at Orthofix Medical

In related news, CEO Massimo Calafiore sold 10,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $16.83, for a total value of $169,612.74. Following the transaction, the chief executive officer now directly owns 133,354 shares of the company’s stock, valued at approximately $2,244,347.82. This represents a 7.03 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the completion of the transaction, the chief financial officer now directly owns 28,312 shares in the company, valued at $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 valued at $436,883. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Engine Capital Management LP boosted its stake in shares of Orthofix Medical by 2.4% in 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of Orthofix Medical by 0.6% in 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 during the last quarter. Juniper Investment Company LLC boosted its stake 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 worth $33,824,000 after buying an additional 1,070,656 shares during the last quarter. Boone Capital Management LLC boosted its stake 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 worth $18,461,000 after buying an additional 126,806 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 worth $14,699,000 after buying an additional 2,448 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.