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

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

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

Orthofix Medical Trading Down 1.4%

Orthofix Medical stock traded down $0.16 during trading hours on Friday, reaching $11.00. The company had a trading volume of 353,288 shares, compared to its average volume of 276,140. 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 firm has a market cap of $430.99 million, a price-to-earnings ratio of -3.51 and a beta of 0.80. The company has a 50-day moving average price of $12.45 and a 200 day moving average price of $15.81.

Insider Activity at Orthofix Medical

In related news, CEO Massimo Calafiore bought 10,000 shares of the company's stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $12.54 per share, with a total value of $125,400.00. Following the completion of the acquisition, the chief executive officer now owns 234,603 shares of the company's stock, valued at $2,941,921.62. The trade was a 4.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jorge Andres Cedron sold 3,816 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total value of $50,790.96. Following the transaction, the insider now directly owns 42,500 shares in the company, valued at approximately $565,675. The trade was a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 112,250 shares of company stock worth $1,380,970 and have sold 8,475 shares worth $128,065. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Orthofix Medical

A number of hedge funds have recently bought and sold shares of the company. Engine Capital Management LP increased its position in Orthofix Medical by 8.4% during the first quarter. Engine Capital Management LP now owns 3,741,390 shares of the medical device company's stock valued at $61,022,000 after acquiring an additional 290,646 shares during the last quarter. Vanguard Group Inc. increased its position in Orthofix Medical by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company's stock valued at $35,577,000 after acquiring an additional 54,528 shares during the last quarter. Juniper Investment Company LLC increased its position in Orthofix Medical by 10.3% during the first quarter. Juniper Investment Company LLC now owns 2,137,374 shares of the medical device company's stock valued at $34,861,000 after acquiring an additional 200,125 shares during the last quarter. Boone Capital Management LLC increased its position in Orthofix Medical by 13.6% in the fourth quarter. Boone Capital Management LLC now owns 1,057,313 shares of the medical device company's stock worth $18,461,000 after buying an additional 126,806 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Orthofix Medical by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 841,637 shares of the medical device company's stock worth $14,699,000 after buying an additional 2,448 shares in the last quarter. Hedge funds and other 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.