Orthofix Medical Inc. (NASDAQ:OFIX) Receives $18.00 Consensus Target Price from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have received an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.00.

Several analysts have issued reports on the stock. StockNews.com raised shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research note on Monday, April 22nd. Roth Mkm raised Orthofix Medical from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $20.00 in a research report on Wednesday, May 8th. Finally, Roth Capital raised Orthofix Medical from a “neutral” rating to a “buy” rating in a report on Wednesday, May 8th.

Orthofix Medical Stock Performance

Shares of OFIX opened at $13.26 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.65 and a debt-to-equity ratio of 0.23. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $21.60. The company has a 50-day simple moving average of $13.72 and a 200-day simple moving average of $13.74. The company has a market capitalization of $497.65 million, a PE ratio of -3.92 and a beta of 1.07.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings results on Tuesday, May 7th. The medical device company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.41). Orthofix Medical had a negative return on equity of 14.24% and a negative net margin of 16.64%. The firm had revenue of $188.61 million for the quarter, compared to analysts’ expectations of $183.40 million. Equities research analysts predict that Orthofix Medical will post -1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OFIX. Swiss National Bank boosted its position in shares of Orthofix Medical by 1.3% in the third quarter. Swiss National Bank now owns 76,400 shares of the medical device company’s stock worth $983,000 after buying an additional 1,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in Orthofix Medical by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 429,485 shares of the medical device company’s stock valued at $5,523,000 after acquiring an additional 20,535 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Orthofix Medical during the third quarter valued at approximately $133,000. Rubric Capital Management LP lifted its position in shares of Orthofix Medical by 43.6% during the third quarter. Rubric Capital Management LP now owns 3,434,665 shares of the medical device company’s stock worth $44,170,000 after purchasing an additional 1,042,253 shares in the last quarter. Finally, AWM Investment Company Inc. boosted its stake in shares of Orthofix Medical by 77.4% in the third quarter. AWM Investment Company Inc. now owns 598,463 shares of the medical device company’s stock valued at $7,696,000 after purchasing an additional 261,081 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

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.