Orthofix Medical (NASDAQ:OFIX) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.61 and traded as high as $17.10. Orthofix Medical shares last traded at $17.00, with a volume of 752,168 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OFIX. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $22.00 price target (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Orthofix Medical Trading Down 0.8 %

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 fifty day simple moving average is $18.17 and its two-hundred day simple moving average is $16.61. The company has a market cap of $649.64 million, a price-to-earnings ratio of -5.43 and a beta of 1.10.

Institutional Trading of Orthofix Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in shares of Orthofix Medical in the 2nd quarter valued at $64,000. Arizona State Retirement System acquired a new position in shares of Orthofix Medical in the 2nd quarter valued at $139,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Orthofix Medical by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock valued at $156,000 after acquiring an additional 559 shares during the period. XTX Topco Ltd acquired a new position in shares of Orthofix Medical in the 2nd quarter valued at $175,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Orthofix Medical in the 3rd quarter valued at $216,000. Institutional investors and hedge funds 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.