Orthofix Medical (NASDAQ:OFIX) Shares Gap Up – What’s Next?

Orthofix Medical Inc. (NASDAQ:OFIX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $18.15, but opened at $19.00. Orthofix Medical shares last traded at $18.84, with a volume of 79,622 shares trading hands.

Analyst Ratings Changes

OFIX has been the subject of a number of research reports. Canaccord Genuity Group began coverage on shares of Orthofix Medical in a research report on Wednesday, January 22nd. They set a “buy” rating and a $24.00 target price for the company. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and raised their target price for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. StockNews.com raised Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Roth Mkm reissued a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Orthofix Medical has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Stock Down 6.0 %

The stock has a market capitalization of $651.74 million, a P/E ratio of -5.42 and a beta of 1.10. 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 fifty day moving average price of $17.94 and a 200 day moving average price of $17.34.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Tuesday, February 25th. The medical device company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.81). Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. On average, research analysts forecast that Orthofix Medical Inc. will post -2.81 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Massimo Calafiore sold 10,078 shares of Orthofix Medical stock in a transaction 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 directly owns 133,354 shares of the company’s stock, valued at approximately $2,244,347.82. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Julie Andrews sold 4,655 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the completion of the transaction, the chief financial officer now directly owns 28,312 shares in the company, valued at approximately $506,501.68. This represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,442 shares of company stock worth $436,883 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds have recently added to or reduced their stakes in OFIX. Lazard Asset Management LLC purchased a new position in shares of Orthofix Medical during the fourth quarter worth approximately $45,000. R Squared Ltd purchased a new position in Orthofix Medical in the 4th quarter worth $50,000. KLP Kapitalforvaltning AS bought a new stake in Orthofix Medical in the fourth quarter worth $112,000. Tower Research Capital LLC TRC boosted its position in Orthofix Medical by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock valued at $148,000 after buying an additional 4,627 shares during the period. Finally, State of Wyoming grew its stake in shares of Orthofix Medical by 206.8% during the fourth quarter. State of Wyoming now owns 9,432 shares of the medical device company’s stock valued at $165,000 after buying an additional 6,358 shares during the last quarter. Institutional investors 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.