Orthofix Medical Inc. (NASDAQ:OFIX) Short Interest Update

Orthofix Medical Inc. (NASDAQ:OFIX) saw a significant decrease in short interest in December. As of December 15th, there was short interest totalling 1,120,000 shares, a decrease of 18.2% from the November 30th total of 1,370,000 shares. Based on an average daily volume of 255,100 shares, the days-to-cover ratio is presently 4.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Orthofix Medical during the 2nd quarter worth about $27,000. Quest Partners LLC acquired a new stake in Orthofix Medical in the 2nd quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Orthofix Medical by 25.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock valued at $125,000 after acquiring an additional 1,919 shares in the last quarter. Arizona State Retirement System acquired a new position in Orthofix Medical during the 2nd quarter worth approximately $139,000. Finally, XTX Topco Ltd bought a new position in shares of Orthofix Medical during the 2nd quarter worth approximately $175,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research note on Friday, November 8th. Stifel Nicolaus upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating and lifted their target price for the company from $18.00 to $24.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Orthofix Medical Price Performance

Shares of NASDAQ OFIX traded down $0.04 during trading on Tuesday, reaching $17.46. The company had a trading volume of 134,215 shares, compared to its average volume of 317,238. Orthofix Medical has a 52 week low of $12.08 and a 52 week high of $20.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39. The business’s 50 day moving average price is $17.97 and its 200-day moving average price is $16.41. The stock has a market cap of $667.22 million, a PE ratio of -5.58 and a beta of 1.09.

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.