Orthofix Medical Inc. (NASDAQ:OFIX) Sees Significant Growth in Short Interest

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 997,300 shares, an increase of 18.6% from the April 30th total of 840,800 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 328,400 shares, the short-interest ratio is presently 3.0 days.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX traded up $0.26 during midday trading on Friday, hitting $10.97. The company had a trading volume of 633,357 shares, compared to its average volume of 274,276. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical has a twelve month low of $10.50 and a twelve month high of $20.73. The business has a 50-day simple moving average of $12.82 and a two-hundred day simple moving average of $16.03. The firm has a market capitalization of $429.82 million, a price-to-earnings ratio of -3.50 and a beta of 0.80.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OFIX. JMP Securities restated a "market perform" rating on shares of Orthofix Medical in a research note on Friday. Canaccord Genuity Group restated a "buy" rating and issued a $24.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Roth Mkm restated a "buy" rating and issued a $22.00 target price on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Orthofix Medical from a "hold" rating to a "sell" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $23.33.

Insider Buying and Selling

In other news, insider Jorge Andres Cedron sold 3,816 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total value of $50,790.96. Following the completion of the sale, the insider now owns 42,500 shares in the company, valued at approximately $565,675. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Engine Capital Management, Lp bought 100,000 shares of Orthofix Medical stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $12.31 per share, with a total value 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 disclosure for this purchase can be found here. In the last 90 days, insiders acquired 112,250 shares of company stock worth $1,380,970 and sold 8,475 shares worth $128,065. 1.30% of the stock is owned by company insiders.

Institutional Trading of Orthofix Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $150,000. Jane Street Group LLC acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $1,076,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $575,000. Philosophy Capital Management LLC acquired a new stake in shares of Orthofix Medical in the first quarter valued at about $6,047,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Orthofix Medical by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,561 shares of the medical device company's stock valued at $335,000 after acquiring an additional 1,213 shares in the last quarter. Institutional investors and hedge funds 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.