Orthofix Medical Inc. (NASDAQ:OFIX) Receives $23.33 Consensus Price Target from Analysts

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

A number of brokerages recently issued reports on OFIX. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Roth Mkm restated a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $24.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th.

Orthofix Medical Stock Up 1.5 %

Shares of NASDAQ:OFIX opened at $16.78 on Thursday. 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 company has a fifty day simple moving average of $17.80 and a 200 day simple moving average of $17.38. The firm has a market cap of $654.79 million, a PE ratio of -5.36 and a beta of 1.06. Orthofix Medical has a 12-month low of $12.08 and a 12-month high of $20.73.

Insider Buying and Selling at Orthofix Medical

In other Orthofix Medical news, CFO Julie Andrews sold 4,655 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the sale, the chief financial officer now owns 28,312 shares in the company, valued at $506,501.68. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Massimo Calafiore sold 9,203 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the transaction, the chief executive officer now owns 124,151 shares of the company’s stock, valued at $2,127,948.14. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,416 shares of company stock worth $436,419 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Several institutional investors have recently modified their holdings of OFIX. Juniper Investment Company LLC grew its position in shares of Orthofix Medical by 123.5% during the fourth quarter. Juniper Investment Company LLC now owns 1,937,249 shares of the medical device company’s stock worth $33,824,000 after acquiring an additional 1,070,656 shares during the last quarter. JPMorgan Chase & Co. grew its position in Orthofix Medical by 244.1% in the 4th quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company’s stock valued at $5,070,000 after buying an additional 205,972 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Orthofix Medical by 31.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 659,475 shares of the medical device company’s stock valued at $11,515,000 after buying an additional 159,177 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in Orthofix Medical by 35.4% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 503,802 shares of the medical device company’s stock valued at $8,796,000 after buying an additional 131,653 shares in the last quarter. Finally, Boone Capital Management LLC grew its position in Orthofix Medical by 13.6% in the 4th quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company’s stock valued at $18,461,000 after buying an additional 126,806 shares in the last quarter. Institutional investors 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.