Orthofix Medical (NASDAQ:OFIX) Receives Outperform Rating from Barrington Research

Key Points

• Barrington Research reiterated an Outperform rating on Orthofix with a $17.00 price target (implying ~36.9% upside), while the Street consensus remains a "Hold" with a $17.25 average target and a 3 Buy / 2 Hold / 1 Sell analyst split.
• Shares recently traded around $12.42 (52-week range $10.24–$16.99) with a market cap of about $499M, and the company is currently reporting negative earnings and margins (P/E -5.31, net margin -11.21%) with analysts forecasting -2.81 EPS for the year.
• Insider and institutional activity is notable: CEO Massimo Calafiore sold 9,797 shares in January, while Engine Capital purchased 124,797 shares in February (raising its stake to 3,663,133 shares); institutional investors own roughly 89.8% of the stock.

Orthofix Medical (NASDAQ:OFIX - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Barrington Research in a research note issued on Friday,Benzinga reports. They currently have a $17.00 price target on the medical device company's stock. Barrington Research's price objective points to a potential upside of 36.88% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of Orthofix Medical from $22.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, March 9th. Wall Street Zen upgraded Orthofix Medical from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Canaccord Genuity Group dropped their price objective on Orthofix Medical from $24.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, February 26th. TD Cowen began coverage on Orthofix Medical in a research report on Tuesday, January 27th. They issued a "hold" rating and a $14.00 price objective on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.25.

Orthofix Medical Stock Up 1.8%

Shares of Orthofix Medical stock opened at $12.42 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45. Orthofix Medical has a 52-week low of $10.24 and a 52-week high of $16.99. The company's 50 day moving average price is $12.56 and its 200-day moving average price is $14.17. The stock has a market capitalization of $498.54 million, a price-to-earnings ratio of -5.31 and a beta of 0.82.

Orthofix Medical (NASDAQ:OFIX - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The medical device company reported ($0.06) EPS for the quarter. The firm had revenue of $219.91 million for the quarter. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. Equities research analysts forecast that Orthofix Medical will post -2.81 EPS for the current year.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,797 shares of the firm's stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $15.21, for a total value of $149,012.37. Following the completion of the sale, the chief executive officer directly owned 217,237 shares in the company, valued at $3,304,174.77. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Engine Capital Management, Lp acquired 124,797 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were purchased at an average cost of $12.55 per share, for a total transaction of $1,566,202.35. Following the completion of the transaction, the insider owned 3,663,133 shares in the company, valued at approximately $45,972,319.15. This represents a 3.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 18,939 shares of company stock worth $269,973 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company's stock worth $28,000 after purchasing an additional 955 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Orthofix Medical during the 3rd quarter valued at $30,000. Kestra Advisory Services LLC purchased a new stake in shares of Orthofix Medical in the 4th quarter worth about $56,000. Strs Ohio purchased a new stake in shares of Orthofix Medical in the 1st quarter worth about $150,000. Finally, Mackenzie Financial Corp bought a new position in shares of Orthofix Medical in the 3rd quarter worth about $148,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.