Barrington Research Begins Coverage on Orthofix Medical (NASDAQ:OFIX)

Investment analysts at Barrington Research started coverage on shares of Orthofix Medical (NASDAQ:OFIX) in a research note issued on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $16.00 price target on the medical device company’s stock. Barrington Research’s price target would suggest a potential upside of 54.74% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Roth Mkm reissued a “buy” rating and issued a $22.00 price target on shares of Orthofix Medical in a research note on Wednesday, February 26th. JMP Securities reiterated a “market perform” rating on shares of Orthofix Medical in a report on Friday, June 6th. Wall Street Zen raised Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $24.00 price target on shares of Orthofix Medical in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Orthofix Medical presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Orthofix Medical Stock Down 0.1%

Shares of OFIX opened at $10.34 on Monday. The company’s 50-day moving average price is $12.08 and its 200 day moving average price is $15.46. Orthofix Medical has a 12-month low of $10.25 and a 12-month high of $20.73. The company has a current ratio of 2.71, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The firm has a market cap of $405.12 million, a P/E ratio of -2.80 and a beta of 0.80.

Insider Activity

In related news, major shareholder Engine Capital Management, Lp acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $12.31 per share, with a total value of $1,231,000.00. Following the completion of the transaction, the insider now owns 3,544,807 shares of the company’s stock, valued at $43,636,574.17. The trade was a 2.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jorge Andres Cedron sold 3,816 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $13.31, for a total value of $50,790.96. Following the completion of the sale, the insider now owns 42,500 shares in the company, valued at approximately $565,675. The trade was a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 112,250 shares of company stock valued at $1,380,970. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Orthofix Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in shares of Orthofix Medical by 1.2% during the fourth quarter. Rhumbline Advisers now owns 54,989 shares of the medical device company’s stock worth $960,000 after buying an additional 661 shares during the period. Invesco Ltd. grew its holdings in Orthofix Medical by 1.0% during the 4th quarter. Invesco Ltd. now owns 74,977 shares of the medical device company’s stock worth $1,309,000 after acquiring an additional 767 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Orthofix Medical by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,348 shares of the medical device company’s stock valued at $338,000 after purchasing an additional 836 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Orthofix Medical by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 157,100 shares of the medical device company’s stock valued at $2,562,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Orthofix Medical by 2.6% in the 4th quarter. Swiss National Bank now owns 67,600 shares of the medical device company’s stock valued at $1,180,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

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.