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

Key Points

• Orthofix Medical has received a consensus rating of "Buy" from five research firms, with a target price of $21.50 and multiple upgrades in recent reports.
• Insider Aviva Mcpherron sold 3,728 shares at an average price of $10.51, reducing their stake by 7.45%.
• Institutional investors own 89.76% of Orthofix Medical's stock, with notable increases from firms like US Bancorp DE and Tower Research Capital LLC.

Shares of Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) have earned a consensus recommendation of "Buy" from the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.50.

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Orthofix Medical from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barrington Research upgraded shares of Orthofix Medical to a "strong-buy" rating and set a $16.00 price target on the stock in a research note on Monday, June 23rd. Finally, JMP Securities restated a "market perform" rating on shares of Orthofix Medical in a research note on Friday, June 6th.

Orthofix Medical Stock Performance

OFIX traded down $0.04 on Tuesday, hitting $14.06. 252,518 shares of the company's stock were exchanged, compared to its average volume of 321,753. The firm has a market cap of $550.88 million, a PE ratio of -4.47 and a beta of 0.82. Orthofix Medical has a twelve month low of $10.24 and a twelve month high of $20.73. The stock has a fifty day moving average of $11.28 and a two-hundred day moving average of $13.83. The company has a current ratio of 2.67, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.40). The business had revenue of $203.12 million for the quarter, compared to analyst estimates of $196.89 million. Orthofix Medical had a negative return on equity of 25.43% and a negative net margin of 15.29%. On average, research analysts anticipate that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Orthofix Medical

In other news, insider Aviva Mcpherron sold 3,728 shares of the firm's stock in a transaction 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 owned 46,322 shares in the company, valued at approximately $486,844.22. This trade represents a 7.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in shares of Orthofix Medical during the 4th quarter worth about $45,000. US Bancorp DE boosted its position in Orthofix Medical by 684.6% in the first quarter. US Bancorp DE now owns 5,673 shares of the medical device company's stock valued at $93,000 after buying an additional 4,950 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Orthofix Medical in the second quarter valued at about $147,000. Tower Research Capital LLC TRC boosted its position in Orthofix Medical by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock valued at $148,000 after buying an additional 4,627 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Orthofix Medical by 32.6% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,297 shares of the medical device company's stock valued at $148,000 after buying an additional 3,271 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

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.