Orthofix Medical Inc. (NASDAQ:OFIX) Stock Has Consensus Target Price of $14.75

Shares of Orthofix Medical Inc. (NASDAQ:OFIX) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.75.

Several equities analysts have weighed in on the company. Canaccord Genuity Group cut their target price on Orthofix Medical from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Barrington Research boosted their price target on Orthofix Medical from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Finally, Weiss Ratings downgraded Orthofix Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd.

Orthofix Medical Stock Performance

OFIX stock opened at $9.59 on Friday. The firm has a 50 day moving average of $9.48 and a two-hundred day moving average of $10.53. Orthofix Medical has a 12 month low of $8.50 and a 12 month high of $16.99. The company has a market capitalization of $390.60 million, a price-to-earnings ratio of -6.23 and a beta of 0.62. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.55.

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

Institutional Investors Weigh In On Orthofix Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in OFIX. Juniper Investment Company LLC boosted its position in Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after purchasing an additional 663,278 shares during the period. Engine Capital Management LP raised its position in shares of Orthofix Medical by 3.2% in the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock valued at $50,362,000 after purchasing an additional 137,858 shares during the period. Armistice Capital LLC raised its position in shares of Orthofix Medical by 18.4% in the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after purchasing an additional 412,000 shares during the period. BlackRock Inc. acquired a new stake in shares of Orthofix Medical in the second quarter worth $30,405,000. Finally, Paradigm Capital Management Inc. NY acquired a new stake in shares of Orthofix Medical in the second quarter worth $30,167,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Orthofix Medical Company Profile

Orthofix Medical Inc (NASDAQ: OFIX) is a medical device company focused on orthopedic and spine care. Its products are designed to support the treatment of spinal conditions, musculoskeletal disorders, fractures and other orthopedic injuries.

The company offers spinal implants and instrumentation, bone graft substitutes and biologic solutions, and technologies intended to support bone growth and healing. Orthofix also provides products for limb reconstruction and extremity fixation, including systems used in the treatment of complex fractures and deformities.

Orthofix markets its products to hospitals, surgeons and other healthcare providers in the United States and international markets.