Orthofix Medical Inc. (NASDAQ:OFIX) Receives $21.50 Consensus Price Target from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.50.

Several research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Orthofix Medical in a research report on Tuesday, October 28th. They issued a “buy” rating and a $22.00 price objective for the company. Barrington Research boosted their target price on Orthofix Medical from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors have recently modified their holdings of the business. Paradigm Capital Management Inc. NY lifted its holdings in Orthofix Medical by 34.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after buying an additional 858,900 shares during the period. Millennium Management LLC grew its holdings in Orthofix Medical by 86.6% during the 3rd quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after acquiring an additional 684,850 shares during the period. Bank of America Corp DE raised its position in shares of Orthofix Medical by 659.5% during the 2nd quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after acquiring an additional 596,907 shares during the last quarter. Engine Capital Management LP raised its position in shares of Orthofix Medical by 13.6% during the 2nd quarter. Engine Capital Management LP now owns 4,251,671 shares of the medical device company’s stock valued at $47,406,000 after acquiring an additional 510,281 shares during the last quarter. Finally, AYAL Capital Advisors Ltd lifted its stake in shares of Orthofix Medical by 74.7% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 943,203 shares of the medical device company’s stock valued at $10,517,000 after purchasing an additional 403,433 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Trading Down 2.6%

OFIX opened at $15.78 on Friday. Orthofix Medical has a 1-year low of $10.24 and a 1-year high of $20.48. The stock has a market capitalization of $624.89 million, a PE ratio of -5.21 and a beta of 0.79. The company has a current ratio of 2.47, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $15.41 and a two-hundred day moving average price of $14.20.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.