Orthofix Medical Inc. (NASDAQ:OFIX) Receives $17.25 Consensus Price Target from Brokerages

Orthofix Medical Inc. (NASDAQ:OFIX) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.25.

A number of research analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Orthofix Medical from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 9th. Canaccord Genuity Group dropped their price objective on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. TD Cowen began coverage on shares of Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 target price on the stock. Wall Street Zen upgraded Orthofix Medical from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Barrington Research cut their price target on Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th.

Insiders Place Their Bets

In related news, insider Lucas Vitale sold 4,269 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $11.92, for a total value of $50,886.48. Following the completion of the sale, the insider owned 160,449 shares of the company’s stock, valued at approximately $1,912,552.08. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Engine Capital Management, Lp acquired 13,061 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $12.96 per share, for a total transaction of $169,270.56. Following the completion of the acquisition, the insider owned 3,673,092 shares of the company’s stock, valued at approximately $47,603,272.32. This represents a 0.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 28,539 shares of company stock valued at $421,845 in the last three months. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Engine Capital Management LP grew its position in shares of Orthofix Medical by 13.6% in 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 purchasing an additional 510,281 shares in the last quarter. Rubric Capital Management LP lifted its position in Orthofix Medical by 0.7% during the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock worth $41,497,000 after buying an additional 26,769 shares in the last quarter. Juniper Investment Company LLC lifted its position in Orthofix Medical by 23.3% during 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 in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in 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 buying an additional 858,900 shares during the last quarter. Finally, Armistice Capital LLC boosted its stake in 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 buying an additional 14,000 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Orthofix Medical Price Performance

Shares of OFIX opened at $11.50 on Wednesday. The business’s 50-day moving average is $12.88 and its two-hundred day moving average is $14.37. The company has a market capitalization of $461.61 million, a P/E ratio of -4.91 and a beta of 0.75. Orthofix Medical has a fifty-two week low of $10.24 and a fifty-two week high of $16.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45.

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

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.