Orthofix Medical (NASDAQ:OFIX) Sets New 12-Month High – Here’s What Happened

Orthofix Medical Inc. (NASDAQ:OFIX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $20.00 and last traded at $19.95, with a volume of 412106 shares traded. The stock had previously closed at $19.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OFIX shares. Roth Mkm reissued a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and increased their price target for the company from $18.00 to $24.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Orthofix Medical Price Performance

The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $16.34 and a 200 day moving average of $15.39.

Institutional Investors Weigh In On Orthofix Medical

Institutional investors have recently modified their holdings of the business. Algert Global LLC boosted its stake in Orthofix Medical by 25.6% in the third quarter. Algert Global LLC now owns 214,445 shares of the medical device company’s stock valued at $3,350,000 after acquiring an additional 43,753 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Orthofix Medical by 14.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock worth $5,073,000 after purchasing an additional 39,901 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Orthofix Medical by 17.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,632 shares of the medical device company’s stock worth $541,000 after purchasing an additional 5,039 shares during the period. Quest Partners LLC increased its holdings in Orthofix Medical by 187.1% in the third quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock valued at $217,000 after purchasing an additional 9,063 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Orthofix Medical by 3.3% in the third quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after purchasing an additional 2,074 shares during the last quarter. 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.