Orthofix Medical (NASDAQ:OFIX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a report released on Tuesday.

A number of other brokerages have also recently issued reports on OFIX. Roth Mkm restated a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Orthofix Medical in a research report on Friday, November 8th. Stifel Nicolaus raised Orthofix Medical from a “hold” rating to a “buy” rating and upped their target price for the company from $18.00 to $24.00 in a research note on Friday, November 8th. Finally, Canaccord Genuity Group began coverage on Orthofix Medical in a report on Wednesday, January 22nd. They set a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Orthofix Medical has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Orthofix Medical Trading Down 0.3 %

Shares of OFIX stock opened at $17.21 on Tuesday. The stock has a market cap of $657.66 million, a P/E ratio of -5.50 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. Orthofix Medical has a fifty-two week low of $12.08 and a fifty-two week high of $20.73. The business has a fifty day simple moving average of $17.93 and a 200-day simple moving average of $17.35.

Insider Transactions at Orthofix Medical

In other news, CEO Massimo Calafiore sold 9,203 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $17.14, for a total transaction of $157,739.42. Following the sale, the chief executive officer now owns 124,151 shares in the company, valued at $2,127,948.14. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Julie Andrews sold 4,655 shares of Orthofix Medical stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $17.89, for a total value of $83,277.95. Following the completion of the sale, the chief financial officer now directly owns 28,312 shares of the company’s stock, valued at approximately $506,501.68. This represents a 14.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,442 shares of company stock worth $436,883 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Orthofix Medical

Several large investors have recently added to or reduced their stakes in OFIX. Lazard Asset Management LLC acquired a new position in shares of Orthofix Medical during the 4th quarter valued at about $45,000. R Squared Ltd purchased a new stake in Orthofix Medical in the fourth quarter valued at approximately $50,000. KLP Kapitalforvaltning AS acquired a new position in Orthofix Medical during the fourth quarter worth approximately $112,000. Tower Research Capital LLC TRC raised its stake in Orthofix Medical by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,458 shares of the medical device company’s stock worth $148,000 after purchasing an additional 4,627 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Orthofix Medical by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,994 shares of the medical device company’s stock valued at $156,000 after purchasing an additional 559 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.