Orthofix Medical (NASDAQ:OFIX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a research note released on Tuesday morning.

OFIX has been the subject of a number of other research reports. Canaccord Genuity Group started coverage on Orthofix Medical in a report on Wednesday, January 22nd. They set a “buy” rating and a $24.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Orthofix Medical Stock Down 3.5 %

Shares of OFIX opened at $17.51 on Tuesday. The firm has a market cap of $669.13 million, a P/E ratio of -5.59 and a beta of 1.10. The stock has a 50 day simple moving average of $17.94 and a two-hundred day simple moving average of $17.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73.

Insiders Place Their Bets

In other news, CEO Massimo Calafiore sold 10,078 shares of Orthofix Medical 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 completion of the transaction, the chief executive officer now owns 133,354 shares in the company, valued at approximately $2,244,347.82. The trade was a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 28,312 shares of the company’s stock, valued at approximately $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 a total of 25,442 shares of company stock valued at $436,883 in the last quarter. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 worth $156,000 after purchasing an additional 559 shares during the period. Rhumbline Advisers boosted its holdings in Orthofix Medical by 1.2% during the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock valued at $960,000 after acquiring an additional 661 shares during the period. Invesco Ltd. boosted its holdings in Orthofix Medical by 1.0% during the 4th quarter. Invesco Ltd. now owns 74,977 shares of the medical device company’s stock valued at $1,309,000 after acquiring an additional 767 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Orthofix Medical by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company’s stock valued at $338,000 after acquiring an additional 836 shares during the period. Finally, Swiss National Bank boosted its holdings in Orthofix Medical by 2.6% during the 4th quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after acquiring an additional 1,700 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

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.