Analysts Set Orthofix Medical Inc. (NASDAQ:OFIX) PT at $23.33

Orthofix Medical Inc. (NASDAQ:OFIX) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $23.33.

OFIX has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus raised shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a report on Friday, November 8th. StockNews.com raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group initiated coverage on shares of Orthofix Medical in a report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price objective for the company.

Insider Transactions at Orthofix Medical

In other news, CEO Massimo Calafiore sold 9,203 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $17.14, for a total transaction of $157,739.42. Following the completion of the sale, the chief executive officer now owns 124,151 shares of the company’s stock, valued at $2,127,948.14. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Julie Andrews sold 4,655 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the sale, the chief financial officer now directly owns 28,312 shares of the company’s stock, valued at $506,501.68. This represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,442 shares of company stock valued at $436,883 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in Orthofix Medical by 74.0% during the 3rd quarter. SG Americas Securities LLC now owns 17,117 shares of the medical device company’s stock valued at $267,000 after acquiring an additional 7,278 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Orthofix Medical during the 3rd quarter valued at about $216,000. GSA Capital Partners LLP purchased a new stake in Orthofix Medical during the 3rd quarter valued at about $312,000. Victory Capital Management Inc. grew its stake in Orthofix Medical by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Orthofix Medical by 187.1% during the 3rd quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock valued at $217,000 after acquiring an additional 9,063 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Orthofix Medical Price Performance

NASDAQ:OFIX opened at $17.95 on Friday. 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 company has a 50 day moving average price of $17.94 and a 200-day moving average price of $17.33. Orthofix Medical has a 1-year low of $12.08 and a 1-year high of $20.73. The firm has a market cap of $685.87 million, a price-to-earnings ratio of -5.73 and a beta of 1.10.

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.