Orthofix Medical (NASDAQ:OFIX) Price Target Raised to $17.00 at Barrington Research

Key Points

• Barrington Research raised Orthofix Medical’s price target from $15 to $17 and kept an outperform rating, implying about 47.6% upside from the current price.
• The stock rose 15.8% to $11.52 on Monday, and the latest earnings report showed Orthofix beat EPS and revenue expectations, though the company remains unprofitable.
• Analyst views remain mixed overall, with a consensus rating of Hold and a consensus price target of $16, while insiders and institutional investors have been active buyers and sellers recently.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) had its target price hoisted by research analysts at Barrington Research from $15.00 to $17.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical device company's stock. Barrington Research's target price points to a potential upside of 47.63% from the company's current price.

OFIX has been the subject of a number of other reports. Wall Street Zen lowered Orthofix Medical from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Stifel Nicolaus reduced their price objective on Orthofix Medical from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 22nd. TD Cowen reissued a "hold" rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Finally, Canaccord Genuity Group dropped their target price on shares of Orthofix Medical from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.00.

Orthofix Medical Trading Up 15.8%

NASDAQ:OFIX traded up $1.57 during mid-day trading on Monday, reaching $11.52. The company's stock had a trading volume of 384,391 shares, compared to its average volume of 328,402. Orthofix Medical has a twelve month low of $8.85 and a twelve month high of $16.99. The company's fifty day simple moving average is $10.51 and its two-hundred day simple moving average is $12.34. The stock has a market cap of $465.44 million, a P/E ratio of -7.56 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.87 and a quick ratio of 1.76.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.16. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%.The business had revenue of $196.71 million for the quarter, compared to the consensus estimate of $196.40 million. On average, equities analysts predict that Orthofix Medical will post -1.48 EPS for the current year.

Insider Buying and Selling

In other Orthofix Medical news, insider Jorge Andres Cedron sold 3,743 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $12.82, for a total transaction of $47,985.26. Following the completion of the sale, the insider owned 59,006 shares of the company's stock, valued at approximately $756,456.92. This represents a 5.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John B. Henneman III bought 5,000 shares of the stock in a transaction on Thursday, May 7th. The stock was acquired at an average price of $12.26 per share, with a total value of $61,300.00. Following the completion of the acquisition, the director owned 90,809 shares of the company's stock, valued at $1,113,318.34. This represents a 5.83% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 189,896 shares of company stock valued at $2,293,970. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently bought and sold shares of OFIX. Engine Capital Management LP increased its position in Orthofix Medical by 3.2% in the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company's stock worth $50,362,000 after buying an additional 137,858 shares during the last quarter. Rubric Capital Management LP lifted its stake in Orthofix Medical by 0.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company's stock worth $41,497,000 after purchasing an additional 26,769 shares in the last quarter. Juniper Investment Company LLC grew its position in Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company's stock worth $53,217,000 after buying an additional 663,278 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of Orthofix Medical by 34.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company's stock worth $37,248,000 after purchasing an additional 858,900 shares in the last quarter. Finally, Armistice Capital LLC raised its position in shares of Orthofix Medical by 18.4% during the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company's stock valued at $40,144,000 after buying an additional 412,000 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

Orthofix Medical Inc NASDAQ: OFIX is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company's core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix's product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.

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