Orthofix Medical Inc. (NASDAQ:OFIX) Stock Has Consensus Price Target of $14.75

Key Points

• Analyst sentiment is mixed: Orthofix Medical has a consensus “Hold” rating from five analysts, with three buys, one hold and one sell. The average 12-month price target is $14.75 versus a recent share price of $9.17.
• Recent quarterly results slightly exceeded expectations: The company reported an adjusted loss of $0.39 per share versus the consensus estimate of $0.41, while revenue reached $210.93 million. Analysts expect a full-year loss of approximately $1.29 per share.
• Institutional ownership remains high: Hedge funds and other institutional investors own 89.76% of Orthofix shares, although the stock remains near its 52-week low and has negative profitability metrics.

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has received an average recommendation of "Hold" from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.75.

A number of brokerages recently weighed in on OFIX. Canaccord Genuity Group reduced their target price on shares of Orthofix Medical from $18.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Barrington Research lifted their price target on Orthofix Medical from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Finally, Weiss Ratings lowered Orthofix Medical from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 2nd.

Hedge Funds Weigh In On Orthofix Medical

Large investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in shares of Orthofix Medical during the 2nd quarter worth approximately $30,000. Legal & General Group Plc bought a new stake in shares of Orthofix Medical in the second quarter worth $37,000. Abel Hall LLC acquired a new position in Orthofix Medical during the first quarter worth $139,000. The Manufacturers Life Insurance Company acquired a new position in Orthofix Medical during the second quarter worth $114,000. Finally, R Squared Ltd grew its position in Orthofix Medical by 7.2% in the first quarter. R Squared Ltd now owns 13,518 shares of the medical device company's stock valued at $155,000 after purchasing an additional 904 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $9.17 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 2.84. Orthofix Medical has a 52 week low of $8.50 and a 52 week high of $16.99. The company's 50 day moving average price is $9.64 and its two-hundred day moving average price is $10.60. The company has a market capitalization of $373.49 million, a P/E ratio of -5.95 and a beta of 0.62.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.02. Orthofix Medical had a negative net margin of 7.41% and a negative return on equity of 14.05%. The company had revenue of $210.93 million during the quarter, compared to analysts' expectations of $209.28 million. On average, analysts expect that Orthofix Medical will post -1.29 earnings per share for the current fiscal year.

About Orthofix Medical

Orthofix Medical Inc NASDAQ: OFIX is a medical device company focused on orthopedic and spine care. Its products are designed to support the treatment of spinal conditions, musculoskeletal disorders, fractures and other orthopedic injuries.

The company offers spinal implants and instrumentation, bone graft substitutes and biologic solutions, and technologies intended to support bone growth and healing. Orthofix also provides products for limb reconstruction and extremity fixation, including systems used in the treatment of complex fractures and deformities.

Orthofix markets its products to hospitals, surgeons and other healthcare providers in the United States and international markets.

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