Orthofix Medical Inc. (NASDAQ:OFIX) Short Interest Update

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,430,000 shares, a growth of 43.4% from the May 15th total of 997,300 shares. Based on an average daily trading volume, of 357,600 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.8% of the company's shares are short sold.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. JMP Securities reaffirmed a "market perform" rating on shares of Orthofix Medical in a research report on Friday, June 6th. Roth Mkm reaffirmed a "buy" rating and set a $22.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. Finally, Wall Street Zen raised shares of Orthofix Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

Insider Activity at Orthofix Medical

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 shares were bought at an average price of $12.31 per share, for a total transaction of $1,231,000.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jorge Andres Cedron sold 3,816 shares of Orthofix Medical stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the transaction, the insider now directly owns 42,500 shares of the company's stock, valued at $565,675. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 112,250 shares of company stock worth $1,380,970 over the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Orthofix Medical

Large investors have recently modified their holdings of the business. Lazard Asset Management LLC bought a new position in shares of Orthofix Medical in the 4th quarter worth $45,000. US Bancorp DE grew its position in shares of Orthofix Medical by 684.6% in the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company's stock worth $93,000 after buying an additional 4,950 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Orthofix Medical during the 4th quarter worth approximately $112,000. Tower Research Capital LLC TRC boosted its stake 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 acquiring an additional 4,627 shares in the last quarter. Finally, Strs Ohio purchased a new position in Orthofix Medical during the 1st quarter worth $150,000. Institutional investors own 89.76% of the company's stock.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX traded down $0.17 during mid-day trading on Thursday, reaching $10.35. The company's stock had a trading volume of 1,012,088 shares, compared to its average volume of 280,128. Orthofix Medical has a 52 week low of $10.25 and a 52 week high of $20.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.71 and a quick ratio of 1.50. The firm has a market capitalization of $405.52 million, a PE ratio of -2.80 and a beta of 0.80. The stock has a fifty day moving average of $12.21 and a two-hundred day moving average of $15.63.

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.