Orthofix Medical (NASDAQ:OFIX) Shares Pass Above 200-Day Moving Average – Here’s Why

Orthofix Medical Inc. (NASDAQ:OFIX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.53 and traded as high as $18.44. Orthofix Medical shares last traded at $18.29, with a volume of 201,159 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on OFIX. Roth Mkm restated a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Stock Performance

The firm has a market capitalization of $698.13 million, a PE ratio of -5.84 and a beta of 1.05. The business has a 50-day simple moving average of $16.47 and a 200-day simple moving average of $15.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Institutional Trading of Orthofix Medical

Several hedge funds and other institutional investors have recently bought and sold shares of OFIX. Geode Capital Management LLC increased its position in Orthofix Medical by 1.4% during the third quarter. Geode Capital Management LLC now owns 839,189 shares of the medical device company’s stock valued at $13,111,000 after acquiring an additional 11,559 shares during the last quarter. Barclays PLC grew its holdings in Orthofix Medical by 38.8% during the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock valued at $1,912,000 after purchasing an additional 34,210 shares during the last quarter. Jane Street Group LLC raised its position in Orthofix Medical by 10.7% in the 3rd quarter. Jane Street Group LLC now owns 48,134 shares of the medical device company’s stock worth $752,000 after purchasing an additional 4,647 shares during the period. HighTower Advisors LLC lifted its stake in Orthofix Medical by 114.9% in the third quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company’s stock worth $1,393,000 after purchasing an additional 47,680 shares during the last quarter. Finally, HighVista Strategies LLC bought a new stake in Orthofix Medical in the third quarter worth about $1,689,000. 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.