Orthofix Medical Inc. (NASDAQ:OFIX) Receives Consensus Recommendation of "Buy" from Brokerages

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) has received a consensus recommendation of "Buy" from the five analysts that are currently covering the stock, Marketbeat reports. One investment 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 1-year price target among brokerages that have covered the stock in the last year is $21.50.

A number of research firms have issued reports on OFIX. Barrington Research upgraded shares of Orthofix Medical to a "strong-buy" rating and set a $16.00 target price for the company in a research note on Monday, June 23rd. JMP Securities reaffirmed a "market perform" rating on shares of Orthofix Medical in a research note on Friday, June 6th. Finally, Wall Street Zen lowered Orthofix Medical from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

Insider Transactions at Orthofix Medical

In related news, CEO Massimo Calafiore purchased 10,000 shares of Orthofix Medical stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $12.54 per share, for a total transaction of $125,400.00. Following the completion of the acquisition, the chief executive officer directly owned 234,603 shares of the company's stock, valued at $2,941,921.62. The trade was a 4.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the purchase, the insider owned 3,544,807 shares in the company, valued at $43,636,574.17. This trade represents a 2.90% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 113,500 shares of company stock worth $1,394,858. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter valued at about $45,000. US Bancorp DE increased its holdings 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 during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Orthofix Medical during the fourth quarter worth approximately $112,000. Tower Research Capital LLC TRC increased its holdings in shares of 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, Strs Ohio acquired a new position in shares of Orthofix Medical in the first quarter worth $150,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Stock Performance

Shares of OFIX traded up $0.04 during trading hours on Friday, reaching $10.67. 244,884 shares of the company traded hands, compared to its average volume of 288,066. The stock has a market capitalization of $418.05 million, a P/E ratio of -2.89 and a beta of 0.80. The company has a quick ratio of 1.50, a current ratio of 2.71 and a debt-to-equity ratio of 0.38. Orthofix Medical has a 12-month low of $10.24 and a 12-month high of $20.73. The business has a fifty day moving average price of $11.17 and a 200-day moving average price of $14.51.

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.