Orthofix Medical Inc. (NASDAQ:OFIX) Stock Has Consensus Price Target of $14.75

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given an average rating of “Hold” by the five research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.75.

OFIX has been the subject of several research analyst reports. Canaccord Genuity Group decreased their target price on Orthofix Medical from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Barrington Research boosted their price target on shares of Orthofix Medical from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Finally, Weiss Ratings lowered shares of Orthofix Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd.

Orthofix Medical Stock Performance

OFIX stock opened at $9.38 on Friday. The firm has a market cap of $382.05 million, a PE ratio of -6.09 and a beta of 0.62. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $9.46 and a 200-day moving average of $10.52. Orthofix Medical has a 12-month low of $8.50 and a 12-month high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings results on Wednesday, August 5th. The medical device company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%. The business had revenue of $210.93 million for the quarter, compared to analyst estimates of $209.28 million. As a group, sell-side analysts expect that Orthofix Medical will post -1.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OFIX. Moore Capital Management LP bought a new position in Orthofix Medical during the second quarter valued at $781,000. Paradigm Capital Management Inc. NY purchased a new stake in Orthofix Medical in the second quarter worth $30,167,000. Juniper Investment Company LLC increased its position in Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after buying an additional 663,278 shares during the last quarter. BlackRock Inc. purchased a new stake in Orthofix Medical in the 2nd quarter worth about $30,405,000. Finally, Engine Capital Management LP increased its holdings in Orthofix Medical by 3.2% in the 1st quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock worth $50,362,000 after acquiring an additional 137,858 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a medical device company focused on orthopedic and spine care. Its products are designed to support the treatment of spinal conditions, musculoskeletal disorders, fractures and other orthopedic injuries.

The company offers spinal implants and instrumentation, bone graft substitutes and biologic solutions, and technologies intended to support bone growth and healing. Orthofix also provides products for limb reconstruction and extremity fixation, including systems used in the treatment of complex fractures and deformities.

Orthofix markets its products to hospitals, surgeons and other healthcare providers in the United States and international markets.