Orthofix Medical (NASDAQ:OFIX) Upgraded to “Buy” at StockNews.com

Orthofix Medical (NASDAQ:OFIX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other analysts have also issued reports on OFIX. Roth Mkm reissued a “buy” rating and set a $22.00 target price (up 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 boosted their target price for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Finally, Canaccord Genuity Group initiated coverage on shares of Orthofix Medical in a report on Wednesday, January 22nd. They set a “buy” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Orthofix Medical Trading Down 3.5 %

NASDAQ OFIX traded down $0.64 during trading hours on Tuesday, hitting $17.51. 523,481 shares of the company were exchanged, compared to its average volume of 174,391. The stock has a 50-day moving average price of $17.94 and a 200 day moving average price of $17.35. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical has a 52 week low of $12.08 and a 52 week high of $20.73. The stock has a market cap of $669.13 million, a PE ratio of -5.59 and a beta of 1.10.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, February 25th. The medical device company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.81). Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. Analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Orthofix Medical news, CFO Julie Andrews sold 4,655 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $17.89, for a total value of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares in the company, valued at approximately $506,501.68. This represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Massimo Calafiore sold 10,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $16.83, for a total value of $169,612.74. Following the completion of the sale, the chief executive officer now owns 133,354 shares in the company, valued at approximately $2,244,347.82. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,442 shares of company stock worth $436,883. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Orthofix Medical

Several hedge funds have recently bought and sold shares of OFIX. Assenagon Asset Management S.A. purchased a new stake in Orthofix Medical in the 3rd quarter worth approximately $216,000. GSA Capital Partners LLP purchased a new position in shares of Orthofix Medical during the 3rd quarter valued at approximately $312,000. Victory Capital Management Inc. lifted its position in shares of Orthofix Medical by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock valued at $1,012,000 after buying an additional 2,074 shares in the last quarter. Quest Partners LLC lifted its position in shares of Orthofix Medical by 187.1% during the 3rd quarter. Quest Partners LLC now owns 13,908 shares of the medical device company’s stock valued at $217,000 after buying an additional 9,063 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Orthofix Medical by 17.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,632 shares of the medical device company’s stock valued at $541,000 after buying an additional 5,039 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.