Orthofix Medical Inc. (NASDAQ:OFIX) Receives $17.25 Consensus PT from Analysts

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given a consensus recommendation of “Hold” by the six analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.25.

OFIX has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their target price on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. TD Cowen began coverage on shares of Orthofix Medical in a research report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price objective on the stock. Finally, Barrington Research lowered their target price on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th.

Orthofix Medical Stock Performance

OFIX opened at $11.47 on Wednesday. The firm has a market cap of $460.41 million, a P/E ratio of -4.90 and a beta of 0.75. Orthofix Medical has a 1-year low of $10.24 and a 1-year high of $16.99. The company has a 50 day simple moving average of $12.78 and a two-hundred day simple moving average of $14.32. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.43.

Orthofix Medical (NASDAQ:OFIX) last announced its quarterly earnings data on Saturday, February 14th. The medical device company reported ($0.06) EPS for the quarter. Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. The firm had revenue of $219.91 million for the quarter. Equities analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Activity at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,797 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $15.21, for a total value of $149,012.37. Following the sale, the chief executive officer owned 217,237 shares in the company, valued at $3,304,174.77. The trade was a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Engine Capital Management, Lp bought 13,061 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $12.96 per share, for a total transaction of $169,270.56. Following the completion of the transaction, the insider directly owned 3,673,092 shares of the company’s stock, valued at $47,603,272.32. This represents a 0.36% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 28,539 shares of company stock valued at $421,845. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OFIX. CWM LLC increased its position in Orthofix Medical by 99.0% in the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Orthofix Medical during the third quarter valued at $30,000. Kestra Advisory Services LLC bought a new position in Orthofix Medical during the fourth quarter valued at $56,000. Strs Ohio purchased a new position in shares of Orthofix Medical in the 1st quarter worth $150,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Orthofix Medical in the 3rd quarter worth about $148,000. 89.76% of the stock is currently owned by institutional investors.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.