Orthofix Medical (NASDAQ:OFIX) Earns Market Perform Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Orthofix Medical (NASDAQ:OFIX) in a research report sent to investors on Friday morning,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm restated a “buy” rating and set a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $24.00 price objective on shares of Orthofix Medical in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.33.

Orthofix Medical Stock Up 2.4%

OFIX opened at $10.97 on Friday. Orthofix Medical has a 52 week low of $10.50 and a 52 week high of $20.73. The business has a 50 day moving average price of $12.82 and a two-hundred day moving average price of $16.03. The company has a quick ratio of 1.11, a current ratio of 2.39 and a debt-to-equity ratio of 0.25. The company has a market cap of $429.82 million, a PE ratio of -3.50 and a beta of 0.80.

Insider Activity

In related news, CEO Massimo Calafiore bought 10,000 shares of the company’s stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $12.54 per share, with a total value of $125,400.00. Following the completion of the acquisition, the chief executive officer now owns 234,603 shares in the company, valued at approximately $2,941,921.62. This represents a 4.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lucas Vitale sold 4,287 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.60, for a total value of $71,164.20. Following the sale, the insider now directly owns 135,317 shares in the company, valued at $2,246,262.20. This trade represents a 3.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 112,250 shares of company stock valued at $1,380,970 and sold 8,475 shares valued at $128,065. Insiders own 1.30% of the company’s stock.

Institutional Trading of Orthofix Medical

Several large investors have recently bought and sold shares of OFIX. Barclays PLC grew its stake in Orthofix Medical by 38.8% in the 3rd quarter. Barclays PLC now owns 122,472 shares of the medical device company’s stock valued at $1,912,000 after acquiring an additional 34,210 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Orthofix Medical by 1.2% in the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock valued at $960,000 after purchasing an additional 661 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Orthofix Medical in the fourth quarter valued at about $499,000. Charles Schwab Investment Management Inc. grew its position in shares of Orthofix Medical by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 339,531 shares of the medical device company’s stock valued at $5,928,000 after purchasing an additional 14,724 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Orthofix Medical by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 66,675 shares of the medical device company’s stock worth $1,164,000 after purchasing an additional 1,868 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.