Barrington Research Reiterates “Outperform” Rating for Orthofix Medical (NASDAQ:OFIX)

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “outperform” rating reissued by Barrington Research in a note issued to investors on Friday,Benzinga reports. They currently have a $17.00 price objective on the medical device company’s stock. Barrington Research’s price target points to a potential upside of 37.32% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. TD Cowen began coverage on Orthofix Medical in a report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price target on the stock. Canaccord Genuity Group decreased their price target on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Stifel Nicolaus decreased their price target on Orthofix Medical from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.25.

Orthofix Medical Stock Performance

OFIX opened at $12.38 on Friday. The stock has a 50-day moving average of $12.54 and a 200-day moving average of $14.15. Orthofix Medical has a 52-week low of $10.24 and a 52-week high of $16.99. The company has a market cap of $496.93 million, a PE ratio of -5.29 and a beta of 0.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings results on Saturday, February 14th. The medical device company reported ($0.06) earnings per share for the quarter. The business had revenue of $219.91 million for the quarter. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. As a group, equities research analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Massimo Calafiore sold 9,797 shares of Orthofix Medical stock in a transaction on Monday, January 12th. The stock was sold at an average price of $15.21, for a total transaction of $149,012.37. Following the completion of the sale, the chief executive officer directly owned 217,237 shares of the company’s stock, valued at $3,304,174.77. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Engine Capital Management, Lp acquired 13,061 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $12.96 per share, with a total value of $169,270.56. Following the completion of the purchase, the insider owned 3,673,092 shares of the company’s stock, valued at $47,603,272.32. This trade represents a 0.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 18,939 shares of company stock valued at $269,973 in the last three months. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently made changes to their positions in the stock. VARCOV Co. acquired a new stake in shares of Orthofix Medical during the fourth quarter worth $164,000. Juniper Investment Company LLC grew its stake in shares of Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares during the period. Engineers Gate Manager LP grew its stake in shares of Orthofix Medical by 92.6% during the fourth quarter. Engineers Gate Manager LP now owns 85,101 shares of the medical device company’s stock worth $1,290,000 after purchasing an additional 40,923 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Orthofix Medical during the fourth quarter worth $238,000. Finally, Armistice Capital LLC grew its stake in shares of Orthofix Medical by 18.4% during the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock worth $40,144,000 after purchasing an additional 412,000 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.