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

Orthofix Medical Inc. (NASDAQ:OFIX - Get Free Report) was the target of a large increase in short interest in 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. Based on an average daily volume of 328,400 shares, the short-interest ratio is currently 3.0 days. Approximately 2.7% of the company's stock are short sold.

Analysts Set New Price Targets

OFIX has been the subject of several recent research reports. 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. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $24.00 target price on shares of Orthofix Medical in a research report on Wednesday, February 26th. Finally, Wall Street Zen downgraded shares of Orthofix Medical from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

Orthofix Medical Stock Performance

Shares of NASDAQ OFIX traded down $0.13 during midday trading on Wednesday, hitting $10.90. 347,668 shares of the company's stock were exchanged, compared to its average volume of 272,611. Orthofix Medical has a twelve month low of $10.50 and a twelve month high of $20.73. The firm has a market cap of $427.07 million, a P/E ratio of -3.48 and a beta of 0.80. The stock's 50 day moving average price is $13.03 and its 200-day moving average price is $16.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Insider Activity at Orthofix Medical

In other news, CEO Massimo Calafiore purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $12.54 per share, for a total transaction of $125,400.00. Following the completion of the purchase, the chief executive officer now owns 234,603 shares of the company's stock, valued at approximately $2,941,921.62. This trade represents a 4.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Engine Capital Management, Lp bought 100,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the purchase, the insider now owns 3,544,807 shares of the company's stock, valued at $43,636,574.17. The trade was a 2.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 8,475 shares of company stock valued at $128,065. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Orthofix Medical during the 4th quarter valued at $45,000. US Bancorp DE boosted its stake in Orthofix Medical by 684.6% during 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. KLP Kapitalforvaltning AS acquired a new position in Orthofix Medical during the fourth quarter worth about $112,000. Tower Research Capital LLC TRC raised 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 worth $148,000 after acquiring an additional 4,627 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Orthofix Medical in the 1st quarter valued at about $150,000. 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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