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

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

OFIX has been the topic of a number of recent research reports. StockNews.com raised Orthofix Medical from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $22.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th.

Orthofix Medical Price Performance

Shares of Orthofix Medical stock opened at $16.76 on Thursday. Orthofix Medical has a one year low of $12.08 and a one year high of $20.73. The stock’s fifty day moving average is $17.86 and its 200 day moving average is $17.41. The stock has a market cap of $654.01 million, a P/E ratio of -5.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

Insider Buying and Selling at Orthofix Medical

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

Institutional Investors Weigh In On Orthofix Medical

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Orthofix Medical by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after purchasing an additional 559 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Orthofix Medical by 1.2% in the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock worth $960,000 after purchasing an additional 661 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Orthofix Medical by 1.0% in the fourth quarter. Invesco Ltd. now owns 74,977 shares of the medical device company’s stock worth $1,309,000 after purchasing an additional 767 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orthofix Medical by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company’s stock worth $338,000 after purchasing an additional 836 shares during the last quarter. Finally, Swiss National Bank grew its position in Orthofix Medical by 2.6% in the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock worth $1,180,000 after acquiring an additional 1,700 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

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.