Orthofix Medical Inc. (NASDAQ:OFIX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.33.

A number of brokerages have commented on OFIX. Roth Mkm reiterated 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. Canaccord Genuity Group assumed coverage on Orthofix Medical in a research report on Wednesday. They set a “buy” rating and a $24.00 price target for the company. Finally, Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $18.00 to $24.00 in a research note on Friday, November 8th.

Orthofix Medical Price Performance

NASDAQ OFIX traded up $0.06 during mid-day trading on Wednesday, hitting $18.42. The stock had a trading volume of 17,176 shares, compared to its average volume of 216,102. Orthofix Medical has a 52-week low of $12.08 and a 52-week high of $20.73. The company has a market cap of $703.71 million, a price-to-earnings ratio of -5.88 and a beta of 1.10. The company has a 50 day simple moving average of $18.07 and a 200 day simple moving average of $16.92. 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 (NASDAQ:OFIX) last announced its earnings results on Thursday, November 7th. The medical device company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.57). The company had revenue of $196.61 million for 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 quarter last year, the company posted ($0.77) EPS. Equities analysts forecast that Orthofix Medical will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Julie Andrews sold 4,655 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 28,312 shares in the company, valued at approximately $506,501.68. This represents a 14.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Massimo Calafiore sold 9,203 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $17.14, for a total value of $157,739.42. Following the sale, the chief executive officer now owns 124,151 shares of the company’s stock, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,675 shares of company stock valued at $423,238 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of OFIX. American Century Companies Inc. lifted its holdings in shares of Orthofix Medical by 15.7% in the second quarter. American Century Companies Inc. now owns 54,964 shares of the medical device company’s stock valued at $729,000 after purchasing an additional 7,475 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Orthofix Medical in the second quarter valued at $175,000. Sei Investments Co. lifted its holdings in shares of Orthofix Medical by 24.6% in the second quarter. Sei Investments Co. now owns 46,195 shares of the medical device company’s stock valued at $613,000 after purchasing an additional 9,114 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Orthofix Medical by 7.9% in the second quarter. Gabelli Funds LLC now owns 157,500 shares of the medical device company’s stock valued at $2,088,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of 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 valued at $33,894,000 after purchasing an additional 609,137 shares in the last quarter. Institutional investors and hedge funds 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.