Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) Target Price at $18.25

Orthofix Medical Inc. (NASDAQ:OFIX) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.25.

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group cut their target price on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Barrington Research dropped their price target on Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a research note on Thursday, January 22nd. Finally, TD Cowen began coverage on shares of Orthofix Medical in a report on Tuesday, January 27th. They issued a “hold” rating and a $14.00 target price for the company.

Insider Buying and Selling

In other Orthofix Medical news, CFO Julie Andrews sold 4,873 shares of Orthofix Medical stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $14.38, for a total transaction of $70,073.74. Following the transaction, the chief financial officer directly owned 58,039 shares in the company, valued at approximately $834,600.82. The trade was a 7.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Engine Capital Management, Lp bought 124,797 shares of Orthofix Medical stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average price of $12.55 per share, with a total value of $1,566,202.35. Following the acquisition, the insider directly owned 3,663,133 shares of the company’s stock, valued at approximately $45,972,319.15. This represents a 3.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 24,270 shares of company stock valued at $370,958. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Orthofix Medical

A number of institutional investors have recently bought and sold shares of the business. CWM LLC increased its holdings in shares of Orthofix Medical by 99.0% in the 3rd quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 955 shares during the period. State of Alaska Department of Revenue purchased a new position in Orthofix Medical during the third quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in Orthofix Medical during the fourth quarter valued at approximately $56,000. Strs Ohio acquired a new position in Orthofix Medical in the 1st quarter valued at approximately $150,000. Finally, Mackenzie Financial Corp purchased a new stake in Orthofix Medical in the 3rd quarter worth approximately $148,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Stock Down 1.2%

OFIX stock opened at $12.87 on Friday. The firm has a market cap of $509.65 million, a PE ratio of -5.50 and a beta of 0.75. Orthofix Medical has a 12 month low of $10.24 and a 12 month high of $17.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.43. The firm has a 50 day simple moving average of $13.95 and a 200 day simple moving average of $14.68.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly 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 business had revenue of $219.91 million during the quarter, compared to analyst estimates of $218.72 million. Equities research analysts forecast that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

About Orthofix Medical

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.