Orthofix Medical Inc (NASDAQ:OFIX) Given Average Recommendation of “Hold” by Brokerages

Shares of Orthofix Medical Inc (NASDAQ:OFIX) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $60.00.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BidaskClub downgraded Orthofix Medical from a “hold” rating to a “sell” rating in a research report on Friday, October 11th.

Orthofix Medical stock traded up $0.23 on Monday, reaching $52.50. The company’s stock had a trading volume of 120,430 shares, compared to its average volume of 101,738. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.26 and a current ratio of 3.42. The company has a market cap of $996.58 million, a price-to-earnings ratio of 26.79, a PEG ratio of 2.95 and a beta of 0.41. The business’s fifty day moving average price is $51.47 and its 200 day moving average price is $52.27. Orthofix Medical has a twelve month low of $47.79 and a twelve month high of $74.44.

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

In other news, CEO Brad Mason sold 5,805 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.97, for a total transaction of $295,880.85. Following the completion of the sale, the chief executive officer now owns 165,041 shares in the company, valued at $8,412,139.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in OFIX. Vanguard Group Inc. increased its holdings in Orthofix Medical by 1.5% in the second quarter. Vanguard Group Inc. now owns 1,976,516 shares of the medical device company’s stock valued at $104,518,000 after purchasing an additional 29,107 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Orthofix Medical in the second quarter valued at about $22,655,000. Victory Capital Management Inc. increased its holdings in Orthofix Medical by 1.3% in the second quarter. Victory Capital Management Inc. now owns 416,844 shares of the medical device company’s stock valued at $22,043,000 after purchasing an additional 5,156 shares during the last quarter. Oakview Capital Management L.P. increased its holdings in Orthofix Medical by 26.8% in the second quarter. Oakview Capital Management L.P. now owns 408,157 shares of the medical device company’s stock valued at $21,583,000 after purchasing an additional 86,234 shares during the last quarter. Finally, Paradice Investment Management LLC increased its holdings in Orthofix Medical by 0.3% in the second quarter. Paradice Investment Management LLC now owns 400,020 shares of the medical device company’s stock valued at $21,153,000 after purchasing an additional 1,308 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

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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