Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) Target Price at $17.25

Orthofix Medical Inc. (NASDAQ:OFIX) has received an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $17.25.

OFIX has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Orthofix Medical from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 9th. TD Cowen initiated coverage on shares of Orthofix Medical in a research note on Tuesday, January 27th. They issued a “hold” rating and a $14.00 price objective for the company. Canaccord Genuity Group reduced their target price on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Orthofix Medical in a report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd.

Insider Activity at Orthofix Medical

In related news, major shareholder Engine Capital Management, Lp bought 124,797 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average cost of $12.55 per share, with a total value of $1,566,202.35. Following the completion of the acquisition, the insider owned 3,663,133 shares in the company, valued at approximately $45,972,319.15. This represents a 3.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Henneman III bought 5,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $12.26 per share, with a total value of $61,300.00. Following the completion of the acquisition, the director owned 90,809 shares of the company’s stock, valued at $1,113,318.34. This represents a 5.83% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 327,754 shares of company stock valued at $4,029,443. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Paradigm Capital Management Inc. NY grew its position in shares of Orthofix Medical by 34.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after purchasing an additional 858,900 shares during the last quarter. Millennium Management LLC grew its position in shares of Orthofix Medical by 86.6% in the third quarter. Millennium Management LLC now owns 1,475,718 shares of the medical device company’s stock valued at $21,605,000 after purchasing an additional 684,850 shares during the last quarter. Juniper Investment Company LLC grew its position in shares of Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock valued at $53,217,000 after purchasing an additional 663,278 shares during the last quarter. Bank of America Corp DE boosted its position in Orthofix Medical by 659.5% during the second quarter. Bank of America Corp DE now owns 687,410 shares of the medical device company’s stock worth $7,665,000 after acquiring an additional 596,907 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in Orthofix Medical by 18.4% during the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock worth $40,144,000 after acquiring an additional 412,000 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Stock Performance

NASDAQ:OFIX opened at $12.14 on Thursday. The company has a fifty day simple moving average of $12.05 and a two-hundred day simple moving average of $13.69. The company has a market cap of $490.70 million, a price-to-earnings ratio of -8.04 and a beta of 0.79. The company has a quick ratio of 1.76, a current ratio of 2.87 and a debt-to-equity ratio of 0.54. Orthofix Medical has a 52 week low of $10.24 and a 52 week high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Tuesday, May 5th. The medical device company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.16. The business had revenue of $196.71 million during the quarter, compared to the consensus estimate of $196.40 million. Orthofix Medical had a negative net margin of 7.27% and a negative return on equity of 13.44%. As a group, equities analysts anticipate that Orthofix Medical will post -1.37 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.