Orthofix Medical (NASDAQ:OFIX) Upgraded at Wall Street Zen

Orthofix Medical (NASDAQ:OFIX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other analysts also recently commented on OFIX. Canaccord Genuity Group reiterated a "buy" rating and issued a $24.00 target price on shares of Orthofix Medical in a report on Wednesday, February 26th. JMP Securities restated a "market perform" rating on shares of Orthofix Medical in a research report on Friday, June 6th. Finally, Roth Mkm restated a "buy" rating and set a $22.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Orthofix Medical presently has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Orthofix Medical Stock Down 3.8%

OFIX traded down $0.41 during trading on Friday, hitting $10.52. 456,265 shares of the company's stock were exchanged, compared to its average volume of 277,085. The company has a quick ratio of 1.50, a current ratio of 2.71 and a debt-to-equity ratio of 0.38. The business's 50 day moving average is $12.30 and its two-hundred day moving average is $15.66. Orthofix Medical has a fifty-two week low of $10.50 and a fifty-two week high of $20.73. The stock has a market cap of $412.17 million, a P/E ratio of -2.85 and a beta of 0.80.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total transaction of $50,790.96. Following the completion of the transaction, the insider now owns 42,500 shares in the company, valued at $565,675. This trade represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Massimo Calafiore bought 10,000 shares of the business's stock in a transaction on Friday, May 9th. The shares were acquired at an average price of $12.54 per share, with a total value of $125,400.00. Following the transaction, the chief executive officer now directly 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 disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 112,250 shares of company stock worth $1,380,970. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orthofix Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in Orthofix Medical during the fourth quarter valued at approximately $45,000. US Bancorp DE lifted its stake in Orthofix Medical by 684.6% in the 1st quarter. US Bancorp DE now owns 5,673 shares of the medical device company's stock worth $93,000 after purchasing an additional 4,950 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Orthofix Medical in the 4th quarter worth approximately $112,000. Tower Research Capital LLC TRC lifted its stake in Orthofix Medical by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company's stock worth $148,000 after purchasing an additional 4,627 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Orthofix Medical in the 1st quarter worth approximately $150,000. Institutional investors 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.