Orthofix Medical (NASDAQ:OFIX) Given Buy Rating at Canaccord Genuity Group

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research note issued on Wednesday,Benzinga reports. They currently have a $24.00 price objective on the medical device company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 40.53% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Roth Mkm reiterated a “buy” rating and issued a $22.00 target price on shares of Orthofix Medical in a research note on Wednesday. Finally, Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and upped their price target for the stock from $18.00 to $24.00 in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical Trading Down 2.5 %

Shares of OFIX stock traded down $0.43 on Wednesday, reaching $17.08. 102,615 shares of the stock were exchanged, compared to its average volume of 172,081. Orthofix Medical has a 1-year low of $12.08 and a 1-year high of $20.73. The stock has a market cap of $652.62 million, a P/E ratio of -5.49 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $17.94 and a two-hundred day moving average of $17.35.

Insider Activity

In related news, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $17.89, for a total transaction of $83,277.95. Following the sale, the chief financial officer now owns 28,312 shares of the company’s stock, valued at $506,501.68. This trade represents a 14.12 % 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 sold 9,203 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $17.14, for a total transaction of $157,739.42. Following the completion of the sale, the chief executive officer now directly owns 124,151 shares in the company, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,442 shares of company stock valued at $436,883 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Orthofix Medical

A number of institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Orthofix Medical by 37.4% during the third quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company’s stock worth $337,000 after acquiring an additional 5,702 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Orthofix Medical by 14.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock worth $5,073,000 after purchasing an additional 39,901 shares during the last quarter. Barclays PLC grew its stake in Orthofix Medical by 38.8% during the 3rd 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 last quarter. HighTower Advisors LLC increased its position in Orthofix Medical by 114.9% in the third quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company’s stock worth $1,393,000 after buying an additional 47,680 shares during the period. Finally, Kirr Marbach & Co. LLC IN bought a new stake in Orthofix Medical in the fourth quarter valued at $532,000. Hedge funds and other 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.