Orthofix Medical (NASDAQ:OFIX) Given New $15.00 Price Target at Stifel Nicolaus

Orthofix Medical (NASDAQ:OFIX) had its price target decreased by Stifel Nicolaus from $18.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 44.09% from the company’s current price.

Several other equities analysts have also recently issued reports on OFIX. TD Cowen reiterated a “hold” rating on shares of Orthofix Medical in a research report on Thursday. Barrington Research reissued an “outperform” rating and set a $17.00 target price on shares of Orthofix Medical in a research note on Friday, April 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Wall Street Zen downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Canaccord Genuity Group set a $18.00 price target on Orthofix Medical in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Orthofix Medical Stock Performance

Shares of OFIX stock opened at $10.41 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.87 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $11.99 and a two-hundred day moving average of $13.61. Orthofix Medical has a 52 week low of $9.50 and a 52 week high of $16.99. The company has a market cap of $420.77 million, a P/E ratio of -6.89 and a beta of 0.79.

Orthofix Medical (NASDAQ:OFIX) last issued its quarterly earnings data on Tuesday, May 5th. The medical device company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.16. The business had revenue of $196.71 million during the quarter, compared to the consensus estimate of $196.40 million. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%. As a group, analysts anticipate that Orthofix Medical will post -1.37 EPS for the current year.

Insider Activity at Orthofix Medical

In related news, major shareholder Engine Capital Management, Lp purchased 124,797 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average cost of $12.55 per share, with a total value of $1,566,202.35. Following the completion of the purchase, the insider owned 3,663,133 shares of the company’s stock, valued at $45,972,319.15. The trade was a 3.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Henneman III purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was bought at an average cost of $12.26 per share, for a total transaction of $61,300.00. Following the completion of the purchase, the director directly owned 90,809 shares of the company’s stock, valued at $1,113,318.34. The trade was a 5.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 327,754 shares of company stock valued at $4,029,443. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Orthofix Medical

Several institutional investors have recently bought and sold shares of the stock. Engine Capital Management LP raised its holdings in Orthofix Medical by 3.2% during the first quarter. Engine Capital Management LP now owns 4,390,779 shares of the medical device company’s stock valued at $50,362,000 after buying an additional 137,858 shares in the last quarter. Rubric Capital Management LP grew its position in shares of Orthofix Medical by 0.7% in the second quarter. Rubric Capital Management LP now owns 3,721,715 shares of the medical device company’s stock valued at $41,497,000 after purchasing an additional 26,769 shares during the last quarter. Juniper Investment Company LLC lifted its stake in shares of Orthofix Medical by 23.3% in the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock valued at $53,217,000 after buying an additional 663,278 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in Orthofix Medical by 34.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,340,600 shares of the medical device company’s stock valued at $37,248,000 after acquiring an additional 858,900 shares in the last quarter. Finally, Armistice Capital LLC raised its holdings in Orthofix Medical by 18.4% in the 4th quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after acquiring an additional 412,000 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

About Orthofix Medical

Orthofix Medical Inc (NASDAQ: OFIX) is a global medical device company focused on the design and development of innovative orthopedic and spinal solutions. The company’s core business is divided into two segments: spine and orthopedics. In the spine segment, Orthofix offers a range of titanium implants, biologics and portable bone growth stimulation devices designed to support spinal fusion, deformity correction and minimally invasive procedures. Its orthopedic segment encompasses products for fracture fixation, external fixation systems, trauma care and sports medicine, providing surgeons with implantable devices and instruments for complex bone reconstruction and healing.

Orthofix’s product portfolio includes strut systems, bone growth stimulators, interbody fusion devices and fixation hardware that address various indications such as degenerative disc disease, spinal deformities, non-unions and long-bone fractures.