Barrington Research Issues Positive Forecast for Orthofix Medical (NASDAQ:OFIX) Stock Price

Orthofix Medical (NASDAQ:OFIX) had its price target lifted by Barrington Research from $17.00 to $18.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical device company’s stock.

A number of other research firms have also issued reports on OFIX. Stifel Nicolaus started coverage on Orthofix Medical in a report on Tuesday, October 28th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Orthofix Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.50.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $14.97 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.50. Orthofix Medical has a fifty-two week low of $10.24 and a fifty-two week high of $20.73. The stock’s 50-day moving average is $14.93 and its two-hundred day moving average is $13.03. The firm has a market cap of $591.23 million, a P/E ratio of -4.72 and a beta of 0.89.

Orthofix Medical (NASDAQ:OFIX) last issued its earnings results on Tuesday, August 5th. The medical device company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.40). Orthofix Medical had a negative return on equity of 25.43% and a negative net margin of 15.29%.The firm had revenue of $203.12 million during the quarter, compared to analyst estimates of $196.89 million. Analysts predict that Orthofix Medical will post -2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orthofix Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Orthofix Medical by 99.0% during the third quarter. CWM LLC now owns 1,920 shares of the medical device company’s stock worth $28,000 after purchasing an additional 955 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Orthofix Medical during the third quarter worth $30,000. US Bancorp DE grew its stake in shares of Orthofix Medical by 684.6% during the first quarter. US Bancorp DE now owns 5,673 shares of the medical device company’s stock worth $93,000 after purchasing an additional 4,950 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Orthofix Medical during the second quarter worth $147,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Orthofix Medical by 32.6% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,297 shares of the medical device company’s stock worth $148,000 after purchasing an additional 3,271 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

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.