Orthofix Medical (NASDAQ:OFIX) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other equities analysts also recently weighed in on OFIX. Barrington Research lowered their price target on Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. TD Cowen started coverage on Orthofix Medical in a research note on Tuesday, January 27th. They set a “hold” rating and a $14.00 target price for the company. Canaccord Genuity Group decreased their target price on Orthofix Medical from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Orthofix Medical presently has an average rating of “Hold” and a consensus target price of $18.25.

Orthofix Medical Stock Performance

Shares of OFIX opened at $12.62 on Friday. The company has a market cap of $506.57 million, a PE ratio of -5.39 and a beta of 0.75. The firm has a 50-day moving average of $13.85 and a 200-day moving average of $14.66. Orthofix Medical has a one year low of $10.24 and a one year high of $17.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.43.

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

Insider Buying and Selling at Orthofix Medical

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,797 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $15.21, for a total transaction of $149,012.37. Following the completion of the sale, the chief executive officer directly owned 217,237 shares in the company, valued at $3,304,174.77. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Engine Capital Management, Lp acquired 124,797 shares of Orthofix Medical stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average price of $12.55 per share, with a total value of $1,566,202.35. Following the acquisition, the insider owned 3,663,133 shares of the company’s stock, valued at approximately $45,972,319.15. This trade represents a 3.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 24,270 shares of company stock valued at $370,958 in the last three months. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.