Orthofix Medical Inc. (NASDAQ:OFIX) Receives $23.33 Consensus PT from Brokerages

Shares of Orthofix Medical Inc. (NASDAQ:OFIXGet Free Report) have been assigned an average rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.33.

A number of research firms have recently weighed in on OFIX. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and raised their price target for the company from $18.00 to $24.00 in a report on Friday, November 8th. Canaccord Genuity Group began coverage on Orthofix Medical in a research note on Wednesday, January 22nd. They set a “buy” rating and a $24.00 price target on the stock. Finally, Roth Mkm reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th.

View Our Latest Stock Report on Orthofix Medical

Orthofix Medical Price Performance

Shares of NASDAQ:OFIX opened at $18.35 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The stock has a market cap of $701.23 million, a price-to-earnings ratio of -5.86 and a beta of 1.10. The stock’s 50 day moving average price is $18.08 and its 200 day moving average price is $16.99. Orthofix Medical has a 12 month low of $12.08 and a 12 month high of $20.73.

Orthofix Medical (NASDAQ:OFIXGet Free Report) last announced its earnings results 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 company 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 company earned ($0.77) earnings per share. Equities research analysts anticipate that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Orthofix Medical

In other news, CEO Massimo Calafiore sold 10,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $16.83, for a total transaction of $169,612.74. Following the completion of the sale, the chief executive officer now owns 133,354 shares of the company’s stock, valued at approximately $2,244,347.82. This represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the company’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 sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at approximately $506,501.68. This represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,675 shares of company stock worth $423,238. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Orthofix Medical

Hedge funds have recently made changes to their positions in the company. Armistice Capital LLC grew its position in shares of Orthofix Medical by 1.4% during the 2nd quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock worth $49,725,000 after buying an additional 50,000 shares during the period. Engine Capital Management LP lifted its holdings in Orthofix Medical by 11.0% during the second quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock worth $44,668,000 after acquiring an additional 333,364 shares during the period. Paradigm Capital Management Inc. NY increased its stake in shares of Orthofix Medical by 31.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock worth $33,894,000 after purchasing an additional 609,137 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Orthofix Medical by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 839,189 shares of the medical device company’s stock worth $13,111,000 after buying an additional 11,559 shares during the period. Finally, AYAL Capital Advisors Ltd increased its holdings in Orthofix Medical by 10.2% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock worth $9,107,000 after acquiring an additional 63,697 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

About Orthofix Medical

(Get Free Report

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.

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Analyst Recommendations for Orthofix Medical (NASDAQ:OFIX)

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