Orthofix Medical (NASDAQ:OFIX) Upgraded at StockNews.com

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a research report released on Tuesday morning.

A number of other research analysts also recently commented on the company. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a report on Friday, November 8th. Canaccord Genuity Group began coverage on Orthofix Medical in a report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price target for the company. Finally, Roth Mkm reissued a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $17.21 on Tuesday. The company has a market cap of $657.66 million, a P/E ratio of -5.50 and a beta of 1.10. The firm has a fifty day moving average price of $17.93 and a 200 day moving average price of $17.35. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25. Orthofix Medical has a 12 month low of $12.08 and a 12 month high of $20.73.

Insider Activity at Orthofix Medical

In related news, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the completion of the sale, the chief financial officer now owns 28,312 shares in the company, valued at $506,501.68. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Massimo Calafiore sold 10,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $16.83, for a total transaction of $169,612.74. Following the sale, the chief executive officer now owns 133,354 shares of the company’s stock, valued at approximately $2,244,347.82. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,442 shares of company stock valued at $436,883 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OFIX. Assenagon Asset Management S.A. acquired a new position in Orthofix Medical in the 3rd quarter valued at about $216,000. GSA Capital Partners LLP purchased a new position in shares of Orthofix Medical in the 3rd quarter valued at approximately $312,000. Victory Capital Management Inc. increased its holdings in shares of Orthofix Medical by 3.3% in the third quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after purchasing an additional 2,074 shares during the period. Quest Partners LLC raised its stake in shares of Orthofix Medical by 187.1% during the third quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock worth $217,000 after purchasing an additional 9,063 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Orthofix Medical by 17.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,632 shares of the medical device company’s stock worth $541,000 after purchasing an additional 5,039 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.