Orthofix Medical Inc. (NASDAQ:OFIX) Receives Average Recommendation of “Moderate Buy” from Analysts

Orthofix Medical Inc. (NASDAQ:OFIX) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.33.

OFIX has been the topic of a number of analyst reports. Canaccord Genuity Group began coverage on Orthofix Medical in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price target on the stock. Roth Mkm reissued a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and raised their target price for the stock from $18.00 to $24.00 in a research report on Friday, November 8th.

Insider Buying and Selling

In related news, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the transaction, the chief financial officer now owns 28,312 shares in the company, valued at $506,501.68. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $17.14, for a total value of $157,739.42. Following the transaction, the chief executive officer now owns 124,151 shares in the company, valued at $2,127,948.14. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,675 shares of company stock worth $423,238 in the last quarter. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY grew its stake in shares of Orthofix Medical by 31.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock valued at $33,894,000 after purchasing an additional 609,137 shares during the last quarter. Engine Capital Management LP grew its stake in shares of Orthofix Medical by 11.0% in the 2nd quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after purchasing an additional 333,364 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Orthofix Medical in the 2nd quarter valued at approximately $2,193,000. HighVista Strategies LLC purchased a new position in shares of Orthofix Medical in the 3rd quarter valued at approximately $1,689,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Orthofix Medical by 480.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,379 shares of the medical device company’s stock valued at $1,318,000 after purchasing an additional 69,848 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

OFIX stock opened at $18.59 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. The firm has a market capitalization of $710.32 million, a P/E ratio of -5.94 and a beta of 1.10. The business’s 50-day moving average is $18.08 and its two-hundred day moving average is $17.03. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Thursday, November 7th. The medical device company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.57). The company had revenue of $196.61 million during the quarter, compared to analyst estimates of $196.60 million. Orthofix Medical had a negative net margin of 15.18% and a negative return on equity of 21.25%. During the same period in the prior year, the business earned ($0.77) EPS. Analysts anticipate that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

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.