Orthofix Medical’s (OFIX) Buy Rating Reaffirmed at Roth Mkm

Orthofix Medical (NASDAQ:OFIX)‘s stock had its “buy” rating restated by research analysts at Roth Mkm in a research note issued on Wednesday,Benzinga reports. They currently have a $22.00 target price on the medical device company’s stock. Roth Mkm’s target price suggests a potential upside of 28.32% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. StockNews.com upgraded shares of Orthofix Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus upgraded Orthofix Medical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a research report on Friday, November 8th. Finally, Canaccord Genuity Group initiated coverage on Orthofix Medical in a report on Wednesday, January 22nd. They set a “buy” rating and a $24.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.33.

Orthofix Medical Stock Down 2.1 %

Orthofix Medical stock traded down $0.37 during trading hours on Wednesday, hitting $17.15. The company had a trading volume of 97,840 shares, compared to its average volume of 172,081. The firm’s fifty day moving average is $17.94 and its 200-day moving average is $17.35. Orthofix Medical has a fifty-two week low of $12.08 and a fifty-two week high of $20.73. The firm has a market capitalization of $655.18 million, a P/E ratio of -5.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.39 and a quick ratio of 1.11.

Insider Activity

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

Institutional Investors Weigh In On Orthofix Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Orthofix Medical during the fourth quarter worth about $45,000. R Squared Ltd purchased a new position in Orthofix Medical during the 4th quarter valued at about $50,000. KLP Kapitalforvaltning AS purchased a new stake in Orthofix Medical in the fourth quarter worth $112,000. Tower Research Capital LLC TRC lifted its position in shares of Orthofix Medical by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after purchasing an additional 4,627 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Orthofix Medical by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock worth $156,000 after buying an additional 559 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

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.