Orthofix Medical (NASDAQ:OFIX) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Orthofix Medical (NASDAQ:OFIX) in a report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a $24.00 price target on the medical device company’s stock.

Several other equities research analysts have also commented on the stock. Roth Mkm reiterated a “buy” rating and set a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $24.00 in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Orthofix Medical currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Price Performance

Shares of OFIX opened at $17.26 on Wednesday. Orthofix Medical has a twelve month low of $12.08 and a twelve month high of $20.73. The firm’s fifty day simple moving average is $17.93 and its 200-day simple moving average is $17.35. The firm has a market capitalization of $659.57 million, a price-to-earnings ratio of -5.51 and a beta of 1.10. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25.

Insider Buying and Selling at Orthofix Medical

In other news, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction dated Thursday, January 16th. The shares were 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 $506,501.68. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Massimo Calafiore sold 9,203 shares of Orthofix Medical stock in a transaction dated Monday, January 13th. The shares were 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 directly owns 124,151 shares in the company, valued at approximately $2,127,948.14. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,442 shares of company stock worth $436,883. 2.60% of the stock is owned by company insiders.

Institutional Trading of Orthofix Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Orthofix Medical in the fourth quarter valued at about $45,000. R Squared Ltd purchased a new stake in shares of Orthofix Medical in the fourth quarter valued at about $50,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Orthofix Medical in the fourth quarter valued at about $112,000. Tower Research Capital LLC TRC boosted its holdings 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 worth $148,000 after buying an additional 4,627 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Orthofix Medical by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after buying an additional 559 shares in the last quarter. Hedge funds and other 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.