Orthofix Medical Inc. (NASDAQ:OFIX) Receives $23.33 Average Price Target from Brokerages

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $23.33.

Several research firms recently commented on OFIX. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Finally, Canaccord Genuity Group initiated coverage on Orthofix Medical in a research note on Wednesday. They set a “buy” rating and a $24.00 price objective on the stock.

Insider Transactions at Orthofix Medical

In other news, CEO Massimo Calafiore sold 10,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $16.83, for a total transaction 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 trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,675 shares of company stock valued at $423,238 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 purchasing an additional 559 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Orthofix Medical by 4.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock valued at $423,000 after buying an additional 1,336 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Orthofix Medical by 3.3% in the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock worth $1,012,000 after buying an additional 2,074 shares during the period. R Squared Ltd bought a new position in shares of Orthofix Medical in the 4th quarter worth about $50,000. Finally, Verition Fund Management LLC lifted its position in Orthofix Medical by 14.9% during the 3rd quarter. Verition Fund Management LLC now owns 31,704 shares of the medical device company’s stock valued at $495,000 after acquiring an additional 4,112 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Orthofix Medical Price Performance

Orthofix Medical stock opened at $18.35 on Wednesday. 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 business’s 50 day simple moving average is $18.08 and its 200 day simple moving average is $16.96. Orthofix Medical has a 12 month low of $12.08 and a 12 month high of $20.73. The company has a market cap of $701.15 million, a price-to-earnings ratio of -5.86 and a beta of 1.10.

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

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.