Orthofix Medical (NASDAQ:OFIX) Upgraded to “Buy” at StockNews.com

Orthofix Medical (NASDAQ:OFIX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm reiterated a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Orthofix Medical in a report on Friday, November 8th. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $24.00 in a report on Friday, November 8th. Finally, Canaccord Genuity Group assumed coverage on Orthofix Medical in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Orthofix Medical Trading Down 3.5 %

OFIX stock traded down $0.64 during trading on Tuesday, hitting $17.51. 523,481 shares of the company traded hands, compared to its average volume of 174,391. The firm has a market capitalization of $669.13 million, a PE ratio of -5.59 and a beta of 1.10. Orthofix Medical has a 1 year low of $12.08 and a 1 year high of $20.73. The company has a 50-day moving average of $17.94 and a 200-day moving average of $17.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 2.39.

Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Tuesday, February 25th. The medical device company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.81). Orthofix Medical had a negative return on equity of 21.25% and a negative net margin of 15.18%. Analysts predict that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Insider Activity at Orthofix Medical

In related news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the completion of the transaction, the chief executive officer now owns 124,151 shares of the company’s stock, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Julie Andrews sold 4,655 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the transaction, the chief financial officer now directly owns 28,312 shares of the company’s stock, valued at approximately $506,501.68. This trade represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,442 shares of company stock valued at $436,883 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Orthofix Medical by 37.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,960 shares of the medical device company’s stock worth $337,000 after buying an additional 5,702 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Orthofix Medical by 14.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,807 shares of the medical device company’s stock worth $5,073,000 after buying an additional 39,901 shares during the last quarter. Barclays PLC lifted its position in Orthofix Medical by 38.8% during the third quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock valued at $1,912,000 after purchasing an additional 34,210 shares in the last quarter. HighTower Advisors LLC lifted its position in Orthofix Medical by 114.9% during the third quarter. HighTower Advisors LLC now owns 89,183 shares of the medical device company’s stock valued at $1,393,000 after purchasing an additional 47,680 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN purchased a new position in Orthofix Medical during the fourth quarter valued at $532,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.