Orthofix Medical (NASDAQ:OFIX) Given "Market Perform" Rating at JMP Securities

Orthofix Medical (NASDAQ:OFIX - Get Free Report)'s stock had its "market perform" rating reiterated by equities research analysts at JMP Securities in a report released on Friday,Benzinga reports.

OFIX has been the subject of several other research reports. Wall Street Zen downgraded shares of Orthofix Medical from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $24.00 price objective on shares of Orthofix Medical in a research note on Wednesday, February 26th. Finally, Roth Mkm restated a "buy" rating and issued a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.33.

Orthofix Medical Price Performance

Shares of OFIX stock traded up $0.08 on Friday, hitting $11.05. 606,469 shares of the company's stock were exchanged, compared to its average volume of 275,605. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11. Orthofix Medical has a 12 month low of $10.50 and a 12 month high of $20.73. The stock has a market cap of $432.95 million, a P/E ratio of -3.53 and a beta of 0.80. The company has a 50 day moving average of $12.71 and a 200 day moving average of $15.98.

Insider Activity

In related news, major shareholder Engine Capital Management, Lp purchased 100,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the purchase, the insider now owns 3,544,807 shares in the company, valued at approximately $43,636,574.17. This represents a 2.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $13.31, for a total transaction of $50,790.96. Following the sale, the insider now owns 42,500 shares of the company's stock, valued at approximately $565,675. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 112,250 shares of company stock valued at $1,380,970 and sold 8,475 shares valued at $128,065. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Orthofix Medical

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Orthofix Medical by 166.9% during the fourth quarter. Renaissance Technologies LLC now owns 82,190 shares of the medical device company's stock worth $1,435,000 after buying an additional 51,399 shares during the period. Barclays PLC increased its position in shares of Orthofix Medical by 38.8% during the third quarter. Barclays PLC now owns 122,472 shares of the medical device company's stock worth $1,912,000 after buying an additional 34,210 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Orthofix Medical during the fourth quarter worth $45,000. Raymond James Financial Inc. acquired a new stake in shares of Orthofix Medical during the fourth quarter worth $1,003,000. Finally, JPMorgan Chase & Co. increased its position in shares of Orthofix Medical by 244.1% during the fourth quarter. JPMorgan Chase & Co. now owns 290,351 shares of the medical device company's stock worth $5,070,000 after buying an additional 205,972 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.