Orthofix Medical (NASDAQ:OFIX) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Orthofix Medical (NASDAQ:OFIX) in a research report released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $24.00 target price on the medical device company’s stock.

OFIX has been the subject of a number of other research reports. Roth Mkm reaffirmed a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Orthofix Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Trading Up 0.4 %

OFIX stock opened at $18.35 on Wednesday. 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 twelve month low of $12.08 and a twelve month high of $20.73. The company has a market cap of $701.15 million, a P/E ratio of -5.86 and a beta of 1.10. The business has a fifty day moving average of $18.08 and a 200-day moving average of $16.96.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.57). The firm had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. During the same period in the prior year, the firm posted ($0.77) earnings per share. As a group, equities research analysts expect that Orthofix Medical will post -2.81 EPS for the current year.

Insider Transactions at Orthofix Medical

In other news, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Massimo Calafiore sold 10,078 shares of the firm’s 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 in the company, valued at approximately $2,244,347.82. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,675 shares of company stock valued at $423,238 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Orthofix Medical

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in Orthofix Medical by 15.7% during the 2nd quarter. American Century Companies Inc. now owns 54,964 shares of the medical device company’s stock worth $729,000 after buying an additional 7,475 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Orthofix Medical during the 2nd quarter worth approximately $175,000. Sei Investments Co. increased its holdings in shares of Orthofix Medical by 24.6% during the 2nd quarter. Sei Investments Co. now owns 46,195 shares of the medical device company’s stock worth $613,000 after acquiring an additional 9,114 shares during the last quarter. Gabelli Funds LLC raised its stake in Orthofix Medical by 7.9% in the 2nd quarter. Gabelli Funds LLC now owns 157,500 shares of the medical device company’s stock valued at $2,088,000 after acquiring an additional 11,500 shares during the period. Finally, Marshall Wace LLP bought a new position in Orthofix Medical during the second quarter worth $2,193,000. Institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

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.