Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) Target Price at $17.25

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given an average rating of “Hold” by the six analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $17.25.

A number of research firms recently issued reports on OFIX. Wall Street Zen raised Orthofix Medical from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. TD Cowen began coverage on Orthofix Medical in a research report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective for the company. Canaccord Genuity Group lowered their price objective on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Stifel Nicolaus lowered their price objective on Orthofix Medical from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 9th.

Insider Buying and Selling

In related news, insider Lucas Vitale sold 4,269 shares of Orthofix Medical stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $11.92, for a total value of $50,886.48. Following the completion of the sale, the insider directly owned 160,449 shares in the company, valued at $1,912,552.08. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Engine Capital Management, Lp acquired 13,061 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $12.96 per share, with a total value of $169,270.56. Following the completion of the transaction, the insider owned 3,673,092 shares of the company’s stock, valued at approximately $47,603,272.32. This trade represents a 0.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Orthofix Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP increased its position in Orthofix Medical by 0.7% in the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock worth $41,497,000 after purchasing an additional 26,769 shares during the period. Juniper Investment Company LLC grew its position in shares of Orthofix Medical by 23.3% during the 4th quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after buying an additional 663,278 shares during the period. Paradigm Capital Management Inc. NY grew its position in shares of Orthofix Medical by 34.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after buying an additional 858,900 shares during the period. Armistice Capital LLC increased its stake in shares of Orthofix Medical by 18.4% in the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after acquiring an additional 412,000 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Orthofix Medical by 86.6% in the 3rd quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock valued at $21,605,000 after acquiring an additional 684,850 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Stock Performance

Orthofix Medical stock opened at $12.10 on Friday. The stock has a 50-day simple moving average of $12.47 and a 200 day simple moving average of $14.06. The company has a quick ratio of 1.43, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Orthofix Medical has a 12-month low of $10.24 and a 12-month high of $16.99. The stock has a market capitalization of $485.69 million, a price-to-earnings ratio of -5.17 and a beta of 0.82.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Saturday, February 14th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. The business had revenue of $219.91 million during the quarter. On average, research analysts anticipate that Orthofix Medical will post -1.57 earnings per share for the current fiscal year.

Orthofix Medical Company Profile

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.