Orthofix Medical Inc. (NASDAQ:OFIX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities 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 covered the stock in the last year is $23.33.

OFIX has been the topic of several research reports. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and raised their target price for the company from $18.00 to $24.00 in a research report on Friday, November 8th. StockNews.com upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group initiated coverage on Orthofix Medical in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Roth Mkm restated a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th.

Orthofix Medical Stock Performance

NASDAQ OFIX opened at $18.61 on Friday. The company has a market cap of $711.09 million, a PE ratio of -5.95 and a beta of 1.10. The stock’s 50 day simple moving average is $17.93 and its 200-day simple moving average is $17.24. Orthofix Medical has a 1-year low of $12.08 and a 1-year high of $20.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Insider Buying and Selling

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the completion of the sale, the chief executive officer now owns 124,151 shares of the company’s stock, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Julie Andrews sold 4,655 shares of the firm’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 directly owns 28,312 shares of the company’s stock, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,442 shares of company stock worth $436,883. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently modified their holdings of OFIX. JPMorgan Chase & Co. grew its stake in shares of Orthofix Medical by 244.1% in the fourth 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 stake in shares of Orthofix Medical by 31.8% in the fourth 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 stake in shares of Orthofix Medical by 35.4% in the fourth 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. HighVista Strategies LLC acquired a new stake in shares of Orthofix Medical in the third quarter valued at $1,689,000. Finally, Emerald Advisers LLC grew its stake in shares of Orthofix Medical by 12.2% in the fourth quarter. Emerald Advisers LLC now owns 822,377 shares of the medical device company’s stock valued at $14,359,000 after buying an additional 89,717 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

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.