Brokerages Set Orthofix Medical Inc (NASDAQ:OFIX) PT at $60.00

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Orthofix Medical Inc (NASDAQ:OFIX) has been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $60.00.

A number of analysts have issued reports on the stock. TheStreet downgraded shares of Orthofix Medical from a “b+” rating to a “c+” rating in a report on Thursday, May 9th. BidaskClub upgraded shares of Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, ValuEngine cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th.

In related news, CEO Brad Mason sold 8,890 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $51.11, for a total transaction of $454,367.90. Following the completion of the transaction, the chief executive officer now directly owns 159,053 shares in the company, valued at approximately $8,129,198.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio increased its position in Orthofix Medical by 1.4% during the 2nd quarter. Strs Ohio now owns 14,600 shares of the medical device company’s stock worth $772,000 after purchasing an additional 200 shares in the last quarter. Piedmont Investment Advisors Inc. increased its position in Orthofix Medical by 5.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,717 shares of the medical device company’s stock worth $266,000 after purchasing an additional 239 shares in the last quarter. Mason Street Advisors LLC increased its position in Orthofix Medical by 4.2% during the 1st quarter. Mason Street Advisors LLC now owns 6,122 shares of the medical device company’s stock worth $345,000 after purchasing an additional 246 shares in the last quarter. Arizona State Retirement System increased its position in Orthofix Medical by 0.9% during the 1st quarter. Arizona State Retirement System now owns 29,404 shares of the medical device company’s stock worth $1,659,000 after purchasing an additional 266 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Orthofix Medical during the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Shares of OFIX traded up $0.15 during midday trading on Friday, reaching $50.92. The stock had a trading volume of 70 shares, compared to its average volume of 150,305. The firm has a 50 day simple moving average of $51.70 and a 200-day simple moving average of $54.23. Orthofix Medical has a one year low of $47.79 and a one year high of $74.44. The firm has a market cap of $968.18 million, a PE ratio of 25.88, a P/E/G ratio of 2.90 and a beta of 0.42. The company has a current ratio of 3.42, a quick ratio of 2.26 and a debt-to-equity ratio of 0.06.

Orthofix Medical (NASDAQ:OFIX) last announced its earnings results on Monday, August 5th. The medical device company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.12). The company had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.17 million. Orthofix Medical had a return on equity of 9.50% and a net margin of 1.75%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. As a group, research analysts forecast that Orthofix Medical will post 1.77 EPS for the current fiscal year.

About Orthofix Medical

Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spinal appendicular fractures.

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