Orthofix Medical (NASDAQ:OFIX) Stock Passes Above 200 Day Moving Average – Should You Sell?

Orthofix Medical Inc. (NASDAQ:OFIX) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.53 and traded as high as $18.44. Orthofix Medical shares last traded at $18.29, with a volume of 201,159 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OFIX shares. Roth Mkm restated a “buy” rating and set a $22.00 price objective (up 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 lifted their price objective for the company from $18.00 to $24.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Orthofix Medical Price Performance

The firm has a 50-day simple moving average of $16.47 and a 200-day simple moving average of $15.53. The firm has a market cap of $698.13 million, a P/E ratio of -5.84 and a beta of 1.05. The company has a current ratio of 2.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armistice Capital LLC boosted its holdings in shares of Orthofix Medical by 1.4% in the 2nd quarter. Armistice Capital LLC now owns 3,750,000 shares of the medical device company’s stock valued at $49,725,000 after buying an additional 50,000 shares in the last quarter. Rubric Capital Management LP lifted its position in Orthofix Medical by 0.8% during the second quarter. Rubric Capital Management LP now owns 3,694,946 shares of the medical device company’s stock valued at $48,995,000 after acquiring an additional 29,946 shares during the last quarter. Engine Capital Management LP boosted its stake in Orthofix Medical by 11.0% in the second quarter. Engine Capital Management LP now owns 3,368,665 shares of the medical device company’s stock valued at $44,668,000 after acquiring an additional 333,364 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in Orthofix Medical by 31.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,556,100 shares of the medical device company’s stock worth $33,894,000 after purchasing an additional 609,137 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Orthofix Medical by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,008,816 shares of the medical device company’s stock worth $29,168,000 after purchasing an additional 9,150 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.