Orthofix Medical (NASDAQ:OFIX) Price Target Raised to $18.00

Orthofix Medical (NASDAQ:OFIX) had its target price increased by Barrington Research from $17.00 to $18.00 in a report issued on Wednesday morning,Benzinga reports. Barrington Research currently has an outperform rating on the medical device company’s stock.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus began coverage on Orthofix Medical in a research report on Tuesday, October 28th. They issued a “buy” rating and a $22.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.50.

Orthofix Medical Stock Up 1.9%

Orthofix Medical stock opened at $14.96 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.50. The company’s 50-day moving average is $14.92 and its 200-day moving average is $13.05. The firm has a market capitalization of $590.83 million, a PE ratio of -4.72 and a beta of 0.90. Orthofix Medical has a fifty-two week low of $10.24 and a fifty-two week high of $20.73.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Tuesday, August 5th. The medical device company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.40). The business had revenue of $203.12 million for the quarter, compared to the consensus estimate of $196.89 million. Orthofix Medical had a negative return on equity of 25.43% and a negative net margin of 15.29%. Sell-side analysts anticipate that Orthofix Medical will post -2.81 earnings per share for the current year.

Institutional Investors Weigh In On Orthofix Medical

A number of hedge funds and other institutional investors have recently modified their holdings of OFIX. Engine Capital Management LP increased its position in Orthofix Medical by 13.6% during the second quarter. Engine Capital Management LP now owns 4,251,671 shares of the medical device company’s stock worth $47,406,000 after acquiring an additional 510,281 shares during the period. Rubric Capital Management LP grew its position in shares of Orthofix Medical by 0.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock worth $41,497,000 after purchasing an additional 26,769 shares in the last quarter. Paradigm Capital Management Inc. NY increased its holdings in shares of Orthofix Medical by 34.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock worth $37,248,000 after purchasing an additional 858,900 shares during the period. Armistice Capital LLC increased its holdings in shares of Orthofix Medical by 0.5% during the second quarter. Armistice Capital LLC now owns 2,978,000 shares of the medical device company’s stock worth $33,205,000 after purchasing an additional 14,000 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Orthofix Medical by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,181,313 shares of the medical device company’s stock valued at $35,577,000 after buying an additional 54,528 shares in the last quarter. Institutional investors and hedge funds 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.