Orthofix Medical (NASDAQ:OFIX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a report released on Friday.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity Group assumed coverage on Orthofix Medical in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Finally, Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $18.33 on Friday. The firm has a market capitalization of $700.39 million, a price-to-earnings ratio of -5.86 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. The business’s 50-day moving average price is $18.07 and its 200-day moving average price is $17.09. Orthofix Medical has a 12 month low of $12.08 and a 12 month high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Thursday, November 7th. The medical device company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.57). The company had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. During the same period in the prior year, the business earned ($0.77) earnings per share. Equities research analysts forecast that Orthofix Medical will post -2.81 EPS for the current year.

Insider Transactions at Orthofix Medical

In other 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 value of $157,739.42. Following the completion of the transaction, the chief executive officer now directly 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 at the SEC website. Also, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was 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 owns 28,312 shares of the company’s stock, 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 have sold 24,675 shares of company stock worth $423,238 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 valued at $156,000 after purchasing an additional 559 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Orthofix Medical by 1.2% during the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock worth $960,000 after acquiring an additional 661 shares during the last quarter. AQR Capital Management LLC grew its position in Orthofix Medical by 4.4% in the second quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after acquiring an additional 1,336 shares in the last quarter. Victory Capital Management Inc. grew its position in Orthofix Medical by 3.3% in the third quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock worth $1,012,000 after acquiring an additional 2,074 shares in the last quarter. Finally, R Squared Ltd bought a new position in Orthofix Medical in the fourth quarter valued at $50,000. 89.76% of the stock is currently owned by 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.