Brokerages Set Orthofix Medical Inc. (NASDAQ:OFIX) PT at $14.75

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.75.

OFIX has been the topic of a number of research reports. Canaccord Genuity Group cut their price target on shares of Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Stifel Nicolaus lowered their price objective on shares of Orthofix Medical from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Weiss Ratings upgraded shares of Orthofix Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 11th. Finally, Barrington Research boosted their price objective on shares of Orthofix Medical from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 6th.

Orthofix Medical Trading Up 0.8%

NASDAQ OFIX opened at $8.71 on Wednesday. Orthofix Medical has a one year low of $8.50 and a one year high of $16.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.84 and a quick ratio of 1.67. The firm has a market cap of $354.76 million, a P/E ratio of -5.66 and a beta of 0.64. The stock’s 50-day moving average is $10.33 and its 200-day moving average is $10.92.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Wednesday, August 5th. The medical device company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. Orthofix Medical had a negative return on equity of 14.05% and a negative net margin of 7.41%.The business had revenue of $210.93 million during the quarter, compared to analyst estimates of $209.28 million. Sell-side analysts anticipate that Orthofix Medical will post -1.29 earnings per share for the current fiscal year.

Institutional Trading of Orthofix Medical

Several hedge funds and other institutional investors have recently modified their holdings of OFIX. Integrated Wealth Concepts LLC acquired a new position in shares of Orthofix Medical during the second quarter worth about $30,000. Moore Capital Management LP bought a new position in shares of Orthofix Medical during the second quarter worth about $781,000. Empowered Funds LLC acquired a new stake in Orthofix Medical in the 2nd quarter valued at approximately $321,000. Public Employees Retirement System of Ohio acquired a new stake in Orthofix Medical in the 2nd quarter valued at approximately $348,000. Finally, Bank of America Corp DE acquired a new stake in Orthofix Medical in the 2nd quarter valued at approximately $2,667,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on spine and orthopedic care. The company develops and markets products intended to help physicians treat spinal disorders, support bone healing, and address orthopedic injuries and conditions.

Its portfolio includes spinal fixation and motion-preservation systems, interbody implants, bone graft and other biologic products, bone growth stimulation devices, and solutions for limb reconstruction and deformity correction.