Roth Mkm Reiterates Buy Rating for Orthofix Medical (NASDAQ:OFIX)

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a research note issued on Wednesday,Benzinga reports. They presently have a $22.00 target price on the medical device company’s stock. Roth Mkm’s price objective indicates a potential upside of 27.83% from the company’s current price.

OFIX has been the subject of a number of other research reports. StockNews.com raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. Finally, Canaccord Genuity Group initiated coverage on shares of Orthofix Medical in a report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Orthofix Medical has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Orthofix Medical Stock Performance

Shares of NASDAQ:OFIX opened at $17.21 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73. The firm has a market capitalization of $657.66 million, a PE ratio of -5.50 and a beta of 1.10. The business’s 50 day moving average price is $17.93 and its 200-day moving average price is $17.35.

Insider Transactions at Orthofix Medical

In related news, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction of $83,277.95. Following the completion of the sale, the chief financial officer now directly owns 28,312 shares in the company, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Massimo Calafiore sold 10,078 shares of Orthofix Medical stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $16.83, for a total transaction of $169,612.74. Following the transaction, the chief executive officer now directly owns 133,354 shares in the company, valued at $2,244,347.82. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,442 shares of company stock worth $436,883 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Orthofix Medical by 14.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,371 shares of the medical device company’s stock valued at $1,246,000 after purchasing an additional 8,772 shares during the last quarter. Soleus Capital Management L.P. raised its holdings in Orthofix Medical by 13.1% in the 4th quarter. Soleus Capital Management L.P. now owns 686,374 shares of the medical device company’s stock valued at $11,984,000 after buying an additional 79,441 shares during the period. State of Wyoming lifted its position in Orthofix Medical by 206.8% in 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. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Orthofix Medical by 14.8% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,461 shares of the medical device company’s stock worth $1,702,000 after buying an additional 12,578 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Orthofix Medical by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company’s stock worth $338,000 after buying an additional 836 shares during the period. 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.