Orthofix Medical (NASDAQ:OFIX) Upgraded at StockNews.com

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a report published on Friday.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a research note on Friday, November 8th. Canaccord Genuity Group started coverage on shares of Orthofix Medical in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 price target for the company. Finally, Roth Mkm reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Orthofix Medical Stock Down 1.7 %

OFIX opened at $18.33 on Friday. The firm has a market cap of $700.39 million, a P/E ratio of -5.86 and a beta of 1.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The business has a 50 day moving average price of $18.07 and a 200 day moving average price of $17.09. Orthofix Medical has a twelve month low of $12.08 and a twelve month high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings data on Thursday, November 7th. The medical device company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.57). Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. The firm had revenue of $196.61 million for the quarter, compared to the consensus estimate of $196.60 million. During the same period in the prior year, the company posted ($0.77) earnings per share. Research analysts forecast that Orthofix Medical will post -2.81 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $17.14, for a total value of $157,739.42. Following the completion of the transaction, the chief executive officer now owns 124,151 shares of the company’s stock, valued at approximately $2,127,948.14. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the completion of the transaction, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. The trade was a 14.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,675 shares of company stock worth $423,238. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Orthofix Medical by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 839,189 shares of the medical device company’s stock valued at $13,111,000 after acquiring an additional 11,559 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Orthofix Medical by 14.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock valued at $5,073,000 after purchasing an additional 39,901 shares during the last quarter. Algert Global LLC raised its position in shares of Orthofix Medical by 25.6% in the third quarter. Algert Global LLC now owns 214,445 shares of the medical device company’s stock valued at $3,350,000 after purchasing an additional 43,753 shares during the period. Marshall Wace LLP acquired a new stake in shares of Orthofix Medical during the 2nd quarter worth about $2,193,000. Finally, Barclays PLC boosted its holdings in shares of Orthofix Medical by 38.8% during the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock worth $1,912,000 after buying an additional 34,210 shares during the period. 89.76% of the stock is owned by institutional investors.

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.