Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) Price Target at $21.50

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned a consensus rating of “Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.50.

A number of research firms have recently weighed in on OFIX. JMP Securities reaffirmed a “market perform” rating on shares of Orthofix Medical in a report on Friday, June 6th. Wall Street Zen upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Barrington Research upgraded shares of Orthofix Medical to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Monday, June 23rd.

Insider Transactions at Orthofix Medical

In related news, insider Aviva Mcpherron sold 3,728 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total value of $39,181.28. Following the completion of the transaction, the insider owned 46,322 shares of the company’s stock, valued at $486,844.22. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Trading of Orthofix Medical

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in Orthofix Medical by 166.9% in the fourth quarter. Renaissance Technologies LLC now owns 82,190 shares of the medical device company’s stock valued at $1,435,000 after acquiring an additional 51,399 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Orthofix Medical during the fourth quarter worth $45,000. Assenagon Asset Management S.A. raised its holdings in shares of Orthofix Medical by 421.1% during the first quarter. Assenagon Asset Management S.A. now owns 72,226 shares of the medical device company’s stock worth $1,178,000 after acquiring an additional 58,366 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Orthofix Medical by 244.1% during the fourth quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company’s stock worth $5,070,000 after acquiring an additional 205,972 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Orthofix Medical by 14.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,371 shares of the medical device company’s stock worth $1,246,000 after acquiring an additional 8,772 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX opened at $14.02 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.67 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $11.35 and its two-hundred day moving average price is $13.80. Orthofix Medical has a 52-week low of $10.24 and a 52-week high of $20.73. The stock has a market capitalization of $549.30 million, a P/E ratio of -4.42 and a beta of 0.82.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.40). Orthofix Medical had a negative return on equity of 25.43% and a negative net margin of 15.29%. The business had revenue of $203.12 million during the quarter, compared to the consensus estimate of $196.89 million. As a group, sell-side analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current year.

About Orthofix Medical

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.