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

Orthofix Medical Inc. (NASDAQ:OFIX) has earned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.33.

A number of research firms have issued reports on OFIX. StockNews.com raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Canaccord Genuity Group restated a “buy” rating and set a $24.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, Roth Mkm restated a “buy” rating and set a $22.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th.

Insider Activity at Orthofix Medical

In related news, CEO Massimo Calafiore sold 9,203 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $17.14, for a total transaction of $157,739.42. Following the sale, the chief executive officer now directly owns 124,151 shares of the company’s stock, valued at approximately $2,127,948.14. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the sale, the chief financial officer now directly owns 28,312 shares in the company, valued at $506,501.68. This trade represents a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,442 shares of company stock worth $436,883 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Orthofix Medical by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock valued at $156,000 after acquiring an additional 559 shares during the period. Rhumbline Advisers grew its stake in Orthofix Medical by 1.2% in the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock valued at $960,000 after acquiring an additional 661 shares during the period. Invesco Ltd. grew its stake in Orthofix Medical by 1.0% in the 4th quarter. Invesco Ltd. now owns 74,977 shares of the medical device company’s stock valued at $1,309,000 after acquiring an additional 767 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Orthofix Medical by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company’s stock valued at $338,000 after acquiring an additional 836 shares during the period. Finally, Swiss National Bank grew its stake in Orthofix Medical by 2.6% in the 4th quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Trading Up 1.4 %

Shares of NASDAQ:OFIX opened at $16.53 on Thursday. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical has a 52-week low of $12.08 and a 52-week high of $20.73. The stock has a market cap of $645.03 million, a price-to-earnings ratio of -5.28 and a beta of 1.06. The business has a 50-day moving average price of $17.82 and a 200-day moving average price of $17.39.

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.