Orthofix Medical Inc. (NASDAQ:OFIX) Given Average Recommendation of "Moderate Buy" by Brokerages

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.50.

Several equities analysts have recently issued reports on OFIX shares. JMP Securities reissued a "market perform" rating on shares of Orthofix Medical in a research note on Friday, June 6th. Roth Mkm restated a "buy" rating and issued a $22.00 price objective on shares of Orthofix Medical in a report on Wednesday, February 26th. 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 assumed coverage on Orthofix Medical in a research report on Monday. They issued an "outperform" rating and a $16.00 target price for the company. Finally, Wall Street Zen upgraded shares of Orthofix Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 14th.

Orthofix Medical Trading Up 1.0%

Shares of NASDAQ OFIX traded up $0.10 during mid-day trading on Monday, hitting $10.44. The stock had a trading volume of 47,289 shares, compared to its average volume of 280,394. The business has a 50 day moving average price of $12.08 and a two-hundred day moving average price of $15.46. Orthofix Medical has a 1 year low of $10.25 and a 1 year high of $20.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.71. The firm has a market cap of $409.12 million, a P/E ratio of -2.82 and a beta of 0.80.

Insider Buying and Selling

In other news, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This represents a 2.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Massimo Calafiore bought 10,000 shares of the stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $12.54 per share, with a total value of $125,400.00. Following the completion of the transaction, the chief executive officer now directly owns 234,603 shares in the company, valued at approximately $2,941,921.62. The trade was a 4.45% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 112,250 shares of company stock worth $1,380,970 in the last three months. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Engine Capital Management LP increased its stake in Orthofix Medical by 8.4% in the first quarter. Engine Capital Management LP now owns 3,741,390 shares of the medical device company's stock worth $61,022,000 after purchasing an additional 290,646 shares during the period. Vanguard Group Inc. grew its holdings in shares of Orthofix Medical by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company's stock worth $35,577,000 after purchasing an additional 54,528 shares during the last quarter. Juniper Investment Company LLC increased its stake in Orthofix Medical by 10.3% in the 1st quarter. Juniper Investment Company LLC now owns 2,137,374 shares of the medical device company's stock worth $34,861,000 after buying an additional 200,125 shares during the period. Boone Capital Management LLC lifted its holdings in Orthofix Medical by 13.6% during the 4th quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company's stock valued at $18,461,000 after buying an additional 126,806 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Orthofix Medical by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company's stock valued at $14,699,000 after buying an additional 2,448 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

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.

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