Orthofix Medical (NASDAQ:OFIX) Price Target Cut to $18.00 by Analysts at Stifel Nicolaus

Orthofix Medical (NASDAQ:OFIX) had its target price reduced by research analysts at Stifel Nicolaus from $22.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price target points to a potential upside of 42.63% from the stock’s previous close.

A number of other research firms have also commented on OFIX. TD Cowen started coverage on Orthofix Medical in a research note on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective on the stock. Barrington Research lowered their price target on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Canaccord Genuity Group dropped their price target on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen raised shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.25.

Orthofix Medical Stock Performance

Shares of Orthofix Medical stock opened at $12.62 on Monday. The stock has a market cap of $506.62 million, a price-to-earnings ratio of -5.39 and a beta of 0.75. Orthofix Medical has a twelve month low of $10.24 and a twelve month high of $17.28. The company’s fifty day moving average is $13.85 and its 200 day moving average is $14.66. The company has a quick ratio of 1.43, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.50). Orthofix Medical had a negative return on equity of 20.38% and a negative net margin of 11.21%.The company had revenue of $219.91 million for the quarter, compared to the consensus estimate of $218.72 million. Sell-side analysts forecast that Orthofix Medical will post -2.81 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Engine Capital Management, Lp acquired 124,797 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average price of $12.55 per share, for a total transaction of $1,566,202.35. Following the completion of the acquisition, the insider directly owned 3,663,133 shares in the company, valued at $45,972,319.15. The trade was a 3.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Julie Andrews sold 4,873 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $14.38, for a total value of $70,073.74. Following the transaction, the chief financial officer directly owned 58,039 shares in the company, valued at $834,600.82. The trade was a 7.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,270 shares of company stock valued at $370,958. 1.30% of the stock is owned by company insiders.

Institutional Trading of Orthofix Medical

Hedge funds have recently bought and sold shares of the business. Paradigm Capital Management Inc. NY boosted its stake in Orthofix Medical by 34.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after purchasing an additional 858,900 shares during the last quarter. Millennium Management LLC raised its stake in shares of Orthofix Medical by 86.6% in the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock worth $21,605,000 after purchasing an additional 684,850 shares during the last quarter. Juniper Investment Company LLC raised its stake in shares of 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 purchasing an additional 663,278 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Orthofix Medical by 659.5% in the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock valued at $7,665,000 after purchasing an additional 596,907 shares in the last quarter. Finally, Engine Capital Management LP boosted its position in shares of 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 valued at $47,406,000 after buying an additional 510,281 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Company Profile

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.