Orthofix Medical (NASDAQ:OFIX) Price Target Cut to $18.00 by Analysts at Stifel Nicolaus

Orthofix Medical (NASDAQ:OFIX) had its target price reduced by Stifel Nicolaus from $22.00 to $18.00 in a research report report published on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical device company’s stock.

OFIX has been the topic of several other research reports. TD Cowen assumed coverage on shares of Orthofix Medical in a research report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a report on Saturday. Canaccord Genuity Group decreased their price target on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Barrington Research dropped their price target on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.25.

Orthofix Medical Trading Down 1.3%

Shares of NASDAQ OFIX opened at $12.46 on Monday. The company has a current ratio of 2.45, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $500.14 million, a PE ratio of -5.32 and a beta of 0.75. Orthofix Medical has a twelve month low of $10.24 and a twelve month high of $17.28. The stock has a fifty day simple moving average of $13.79 and a 200-day simple moving average of $14.64.

Orthofix Medical (NASDAQ:OFIX) last posted its earnings results on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.50). The firm had revenue of $219.91 million for the quarter, compared to analyst estimates of $218.72 million. Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%. On average, equities analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current year.

Insider Transactions at Orthofix Medical

In related news, CEO Massimo Calafiore sold 9,797 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $15.21, for a total transaction of $149,012.37. Following the completion of the transaction, the chief executive officer owned 217,237 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, major shareholder Engine Capital Management, Lp purchased 13,061 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $12.96 per share, for a total transaction 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 represents a 0.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 24,270 shares of company stock valued at $370,958. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Engine Capital Management LP lifted its stake in Orthofix Medical by 13.6% during the second quarter. Engine Capital Management LP now owns 4,251,671 shares of the medical device company’s stock worth $47,406,000 after purchasing an additional 510,281 shares during the last quarter. Rubric Capital Management LP increased its stake in Orthofix Medical by 0.7% in 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 purchasing an additional 26,769 shares during the last quarter. Juniper Investment Company LLC raised its holdings in 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 in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in Orthofix Medical by 34.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after purchasing an additional 858,900 shares in the last quarter. Finally, Armistice Capital LLC lifted its position in shares of Orthofix Medical by 0.5% during the 2nd quarter. Armistice Capital LLC now owns 2,978,000 shares of the medical device company’s stock worth $33,205,000 after buying an additional 14,000 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.