Orthofix Medical (NASDAQ:OFIX) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Orthofix Medical Inc. (NASDAQ:OFIX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.61 and traded as high as $17.10. Orthofix Medical shares last traded at $17.00, with a volume of 752,168 shares changing hands.

Analysts Set New Price Targets

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

Orthofix Medical Trading Down 0.8 %

The business’s 50-day moving average is $18.17 and its two-hundred day moving average is $16.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The stock has a market capitalization of $649.64 million, a PE ratio of -5.43 and a beta of 1.10.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors have recently made changes to their positions in OFIX. Paradigm Capital Management Inc. NY boosted its position in shares of Orthofix Medical by 31.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock worth $33,894,000 after purchasing an additional 609,137 shares in the last quarter. Engine Capital Management LP boosted its position in shares of Orthofix Medical by 11.0% during the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock worth $44,668,000 after purchasing an additional 333,364 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Orthofix Medical during the 2nd quarter worth $2,193,000. HighVista Strategies LLC purchased a new stake in shares of Orthofix Medical during the 3rd quarter worth $1,689,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Orthofix Medical by 480.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company’s stock worth $1,318,000 after purchasing an additional 69,848 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.