Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) Target Price at $23.33

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.33.

Several research firms recently issued reports on OFIX. Roth Mkm reaffirmed 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. Canaccord Genuity Group began coverage on Orthofix Medical in a report on Wednesday. They set a “buy” rating and a $24.00 price target on the stock. Finally, Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $24.00 in a report on Friday, November 8th.

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total transaction of $83,277.95. Following the transaction, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Massimo Calafiore sold 9,203 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the completion of the transaction, the chief executive officer now owns 124,151 shares of the company’s stock, valued at approximately $2,127,948.14. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,675 shares of company stock worth $423,238 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of Orthofix Medical by 37.4% in the third quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company’s stock worth $337,000 after buying an additional 5,702 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Orthofix Medical by 14.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock valued at $5,073,000 after acquiring an additional 39,901 shares during the last quarter. AYAL Capital Advisors Ltd lifted its stake in Orthofix Medical by 10.2% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 686,794 shares of the medical device company’s stock worth $9,107,000 after purchasing an additional 63,697 shares in the last quarter. Barclays PLC grew its position in shares of Orthofix Medical by 38.8% during the third 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 in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its position in shares of Orthofix Medical by 31.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock valued at $33,894,000 after purchasing an additional 609,137 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Trading Up 0.4 %

Orthofix Medical stock opened at $18.35 on Wednesday. Orthofix Medical has a 12 month low of $12.08 and a 12 month high of $20.73. 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 fifty day simple moving average is $18.08 and its two-hundred day simple moving average is $16.96. The company has a market capitalization of $701.15 million, a price-to-earnings ratio of -5.86 and a beta of 1.10.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.57). The firm had revenue of $196.61 million for the quarter, compared to analysts’ expectations of $196.60 million. Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. During the same period last year, the company posted ($0.77) earnings per share. As a group, equities analysts predict that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

About Orthofix Medical

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.