Orthofix Medical (NASDAQ:OFIX) Coverage Initiated by Analysts at TD Cowen

TD Cowen began coverage on shares of Orthofix Medical (NASDAQ:OFIX) in a report released on Tuesday, Marketbeat reports. The brokerage issued a hold rating and a $14.00 price target on the medical device company’s stock.

Several other analysts also recently commented on the company. Barrington Research increased their price objective on Orthofix Medical from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Stifel Nicolaus started coverage on shares of Orthofix Medical in a research note on Tuesday, October 28th. They set a “buy” rating and a $22.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.00.

Orthofix Medical Stock Up 0.7%

Shares of NASDAQ OFIX opened at $13.33 on Tuesday. The firm has a market cap of $527.87 million, a PE ratio of -4.40 and a beta of 0.79. The company’s fifty day simple moving average is $15.17 and its 200 day simple moving average is $14.44. The company has a quick ratio of 1.38, a current ratio of 2.47 and a debt-to-equity ratio of 0.39. Orthofix Medical has a 12-month low of $10.24 and a 12-month high of $20.48.

Insider Activity at Orthofix Medical

In other news, CEO Massimo Calafiore sold 9,797 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $15.21, for a total transaction of $149,012.37. Following the transaction, the chief executive officer directly owned 217,237 shares in the company, valued at approximately $3,304,174.77. This represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julie Andrews sold 4,873 shares of Orthofix Medical stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $14.38, for a total transaction of $70,073.74. Following the transaction, the chief financial officer directly owned 58,039 shares in the company, valued at $834,600.82. This trade represents a 7.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 24,270 shares of company stock valued at $370,958. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Orthofix Medical by 1.5% in the 3rd quarter. Raymond James Financial Inc. now owns 66,812 shares of the medical device company’s stock worth $978,000 after purchasing an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Orthofix Medical by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company’s stock worth $335,000 after acquiring an additional 1,213 shares in the last quarter. Monaco Asset Management SAM boosted its stake in Orthofix Medical by 3.0% in the 3rd quarter. Monaco Asset Management SAM now owns 58,059 shares of the medical device company’s stock worth $850,000 after purchasing an additional 1,690 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Orthofix Medical in the third quarter worth approximately $30,000. 89.76% of the stock is owned by institutional investors.

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.