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

Orthofix Medical Inc. (NASDAQ:OFIX) has received an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $21.50.

A number of equities research analysts have commented on the stock. Barrington Research raised shares of Orthofix Medical to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Monday, June 23rd. Wall Street Zen downgraded shares of Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a research report on Friday, June 6th.

Insider Transactions at Orthofix Medical

In other news, major shareholder Engine Capital Management, Lp bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the transaction, the insider directly owned 3,544,807 shares of the company’s stock, valued at approximately $43,636,574.17. The trade was a 2.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aviva Mcpherron sold 3,728 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total transaction of $39,181.28. Following the sale, the insider directly owned 46,322 shares of the company’s stock, valued at $486,844.22. The trade was a 7.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 113,500 shares of company stock valued at $1,394,858. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Orthofix Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in OFIX. Charles Schwab Investment Management Inc. lifted its stake in shares of Orthofix Medical by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 339,531 shares of the medical device company’s stock worth $5,928,000 after buying an additional 14,724 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Orthofix Medical by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company’s stock valued at $1,164,000 after acquiring an additional 1,868 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Orthofix Medical during the fourth quarter valued at about $1,003,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Orthofix Medical by 60.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,472 shares of the medical device company’s stock valued at $969,000 after acquiring an additional 20,840 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Orthofix Medical by 2.6% during the fourth quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX opened at $10.85 on Friday. Orthofix Medical has a fifty-two week low of $10.24 and a fifty-two week high of $20.73. The company has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $14.60. The company has a market capitalization of $425.10 million, a price-to-earnings ratio of -2.94 and a beta of 0.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.71.

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.