Orthofix Medical Inc. (NASDAQ:OFIX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $23.33.

A number of research analysts recently issued reports on the company. Canaccord Genuity Group assumed coverage on Orthofix Medical in a research note on Wednesday. They set a “buy” rating and a $24.00 price objective for the company. Roth Mkm restated a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Finally, Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and upped their price target for the stock from $18.00 to $24.00 in a research note on Friday, November 8th.

Orthofix Medical Stock Up 0.3 %

Orthofix Medical stock traded up $0.06 on Wednesday, hitting $18.42. 17,176 shares of the stock traded hands, compared to its average volume of 216,102. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. The firm has a market cap of $703.71 million, a P/E ratio of -5.88 and a beta of 1.10. The business’s fifty day simple moving average is $18.07 and its 200 day simple moving average is $16.92. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.57). The firm had revenue of $196.61 million for the quarter, compared to analysts’ expectations of $196.60 million. Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. During the same period in the prior year, the business posted ($0.77) EPS. As a group, sell-side analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current year.

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,203 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the transaction, the chief executive officer now owns 124,151 shares of the company’s stock, valued at approximately $2,127,948.14. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Julie Andrews sold 4,655 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 24,675 shares of company stock valued at $423,238 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors and hedge funds have recently modified their holdings of OFIX. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Orthofix Medical by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after purchasing an additional 559 shares in the last quarter. XTX Topco Ltd purchased a new stake in Orthofix Medical during the 2nd quarter valued at approximately $175,000. Assenagon Asset Management S.A. purchased a new stake in Orthofix Medical during the 3rd quarter valued at approximately $216,000. Quest Partners LLC raised its stake in shares of Orthofix Medical by 187.1% during the 3rd quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock worth $217,000 after buying an additional 9,063 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Orthofix Medical by 74.0% during the 3rd quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock worth $267,000 after buying an additional 7,278 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.