Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) PT at $16.00

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have earned a consensus recommendation of “Hold” from the five research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.00.

OFIX has been the topic of several recent analyst reports. Barrington Research upped their price objective on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Canaccord Genuity Group lowered their target price on shares of Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research report on Friday, July 17th. Wall Street Zen lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Stifel Nicolaus decreased their price target on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 22nd.

Orthofix Medical Stock Down 3.1%

Orthofix Medical stock opened at $11.79 on Tuesday. The business has a fifty day moving average price of $10.36 and a 200-day moving average price of $11.83. Orthofix Medical has a 1-year low of $8.85 and a 1-year high of $16.99. The stock has a market capitalization of $476.55 million, a price-to-earnings ratio of -7.81 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. The company had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $196.40 million. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%. Equities research analysts forecast that Orthofix Medical will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, Director John B. Henneman III bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average cost of $12.26 per share, with a total value of $61,300.00. Following the transaction, the director directly owned 90,809 shares in the company, valued at approximately $1,113,318.34. The trade was a 5.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Aviva Mcpherron sold 3,670 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $9.38, for a total value of $34,424.60. Following the completion of the transaction, the insider owned 66,330 shares of the company’s stock, valued at $622,175.40. This trade represents a 5.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have purchased 189,896 shares of company stock valued at $2,293,970 over the last ninety days. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Engine Capital Management LP boosted its position in Orthofix Medical by 3.2% in the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock valued at $50,362,000 after buying an additional 137,858 shares during the last quarter. Juniper Investment Company LLC increased its holdings in Orthofix Medical by 23.3% in 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. Tudor Investment Corp ET AL increased its holdings in Orthofix Medical by 268.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 217,044 shares of the medical device company’s stock worth $3,178,000 after buying an additional 158,197 shares during the period. JPMorgan Chase & Co. raised its position in Orthofix Medical by 33.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 258,035 shares of the medical device company’s stock worth $3,778,000 after buying an additional 64,486 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC purchased a new position in Orthofix Medical during the 1st quarter worth approximately $664,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.