Orthofix Medical Inc. (NASDAQ:OFIX) Receives $21.50 Average Price Target from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) have received a consensus rating of "Buy" from the five analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.50.

OFIX has been the topic of several recent research reports. Wall Street Zen raised shares of Orthofix Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Canaccord Genuity Group reiterated a "buy" rating and set a $24.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. Barrington Research raised Orthofix Medical to a "strong-buy" rating and set a $16.00 price target for the company in a report on Monday. JMP Securities restated a "market perform" rating on shares of Orthofix Medical in a research report on Friday, June 6th. Finally, Roth Mkm reiterated a "buy" rating and set a $22.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th.

Insider Transactions at Orthofix Medical

In other Orthofix Medical news, insider Aviva Mcpherron sold 3,728 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $10.51, for a total transaction of $39,181.28. Following the transaction, the insider now owns 46,322 shares of the company's stock, valued at $486,844.22. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the purchase, the insider now directly owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This trade represents a 2.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 112,250 shares of company stock worth $1,380,970 and have sold 7,620 shares worth $91,168. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Orthofix Medical by 1.2% in the 4th quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company's stock worth $960,000 after purchasing an additional 661 shares during the period. Versor Investments LP acquired a new stake in Orthofix Medical during the 4th quarter worth approximately $499,000. Charles Schwab Investment Management Inc. raised its holdings in Orthofix Medical by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 339,531 shares of the medical device company's stock valued at $5,928,000 after buying an additional 14,724 shares during the period. Victory Capital Management Inc. lifted its position in Orthofix Medical by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company's stock valued at $1,164,000 after buying an additional 1,868 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Orthofix Medical during the fourth quarter worth approximately $1,003,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Price Performance

Shares of Orthofix Medical stock traded up $0.17 on Monday, hitting $11.04. The company's stock had a trading volume of 421,082 shares, compared to its average volume of 283,759. The company has a quick ratio of 1.50, a current ratio of 2.71 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $11.89 and a 200-day moving average price of $15.29. Orthofix Medical has a 52-week low of $10.24 and a 52-week high of $20.73. The company has a market capitalization of $432.55 million, a P/E ratio of -2.99 and a beta of 0.80.

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.