Orthofix Medical Inc. (NASDAQ:OFIX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.00.

OFIX has been the topic of a number of recent analyst reports. StockNews.com raised Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Roth Mkm upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $20.00 in a research note on Wednesday, May 8th. Finally, Roth Capital upgraded shares of Orthofix Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 8th.

Orthofix Medical Stock Performance

OFIX opened at $13.48 on Friday. The business’s 50 day moving average is $13.72 and its 200-day moving average is $13.71. The stock has a market cap of $505.89 million, a PE ratio of -3.99 and a beta of 1.07. The company has a current ratio of 2.65, a quick ratio of 1.19 and a debt-to-equity ratio of 0.23. Orthofix Medical has a twelve month low of $9.57 and a twelve month high of $21.60.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, May 7th. The medical device company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.41). The business had revenue of $188.61 million for the quarter, compared to the consensus estimate of $183.40 million. Orthofix Medical had a negative net margin of 16.64% and a negative return on equity of 14.24%. On average, analysts predict that Orthofix Medical will post -1.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in Orthofix Medical by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock worth $479,000 after buying an additional 1,236 shares during the last quarter. Gabelli Funds LLC boosted its stake in Orthofix Medical by 4.7% in the 1st quarter. Gabelli Funds LLC now owns 146,000 shares of the medical device company’s stock worth $2,120,000 after purchasing an additional 6,500 shares during the period. Gamco Investors INC. ET AL boosted its stake in Orthofix Medical by 21.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 149,200 shares of the medical device company’s stock worth $2,166,000 after purchasing an additional 25,900 shares during the period. Vanguard Group Inc. boosted its stake in Orthofix Medical by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company’s stock worth $29,168,000 after purchasing an additional 9,150 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Orthofix Medical by 34.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,562 shares of the medical device company’s stock valued at $197,000 after buying an additional 3,490 shares during the period. Institutional investors and hedge funds 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.