Orthofix Medical’s (OFIX) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a report published on Tuesday morning,Benzinga reports. They currently have a $18.00 price objective on the medical device company’s stock.

A number of other brokerages have also weighed in on OFIX. TD Cowen started coverage on shares of Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 target price for the company. Stifel Nicolaus initiated coverage on Orthofix Medical in a report on Tuesday, October 28th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Orthofix Medical Stock Up 0.9%

NASDAQ OFIX opened at $13.50 on Tuesday. Orthofix Medical has a 1 year low of $10.24 and a 1 year high of $20.48. The stock has a market capitalization of $534.60 million, a PE ratio of -4.46 and a beta of 0.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.47 and a quick ratio of 1.38. The business’s 50-day moving average is $14.43 and its 200 day moving average is $14.67.

Insiders Place Their Bets

In other news, CEO Massimo Calafiore sold 9,797 shares of the 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 transaction, the chief executive officer owned 217,237 shares of the company’s stock, valued at approximately $3,304,174.77. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julie Andrews sold 4,873 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,270 shares of company stock valued at $370,958. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Orthofix Medical

A number of large investors have recently added to or reduced their stakes in OFIX. Engine Capital Management LP increased its stake in Orthofix Medical by 13.6% during the 2nd quarter. Engine Capital Management LP now owns 4,251,671 shares of the medical device company’s stock valued at $47,406,000 after purchasing an additional 510,281 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of Orthofix Medical by 0.7% during the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock valued at $41,497,000 after buying an additional 26,769 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position in shares of Orthofix Medical by 34.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after acquiring an additional 858,900 shares during the period. Armistice Capital LLC raised its stake in Orthofix Medical by 0.5% in the 2nd quarter. Armistice Capital LLC now owns 2,978,000 shares of the medical device company’s stock worth $33,205,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Juniper Investment Company LLC lifted its position in Orthofix Medical by 15.3% during the 3rd quarter. Juniper Investment Company LLC now owns 2,847,055 shares of the medical device company’s stock worth $41,681,000 after acquiring an additional 377,729 shares during the period. 89.76% of the stock is currently owned by institutional investors.

About Orthofix Medical

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.