Orthofix Medical (NASDAQ:OFIX) Given New $17.00 Price Target at Barrington Research

Orthofix Medical (NASDAQ:OFIX) had its price target lifted by Barrington Research from $15.00 to $17.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical device company’s stock.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen reissued a “hold” rating on shares of Orthofix Medical in a research report on Thursday, May 21st. Stifel Nicolaus dropped their price objective on Orthofix Medical from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Orthofix Medical in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group reduced their price objective on Orthofix Medical from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.00.

Orthofix Medical Stock Up 1.8%

Shares of OFIX stock traded up $0.20 on Monday, reaching $11.77. 50,449 shares of the stock were exchanged, compared to its average volume of 331,976. The company has a market capitalization of $475.91 million, a price-to-earnings ratio of -7.83 and a beta of 0.71. The business’s 50 day moving average price is $10.49 and its 200 day moving average price is $12.32. The company has a current ratio of 2.87, a quick ratio of 1.76 and a debt-to-equity ratio of 0.54. Orthofix Medical has a twelve month low of $8.85 and a twelve month high of $16.99.

Orthofix Medical (NASDAQ:OFIX) last released 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. Orthofix Medical had a negative return on equity of 13.44% and a negative net margin of 7.27%.The business had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $196.40 million. As a group, sell-side analysts expect that Orthofix Medical will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Engine Capital Management, Lp purchased 30,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was acquired at an average price of $12.18 per share, for a total transaction of $365,400.00. Following the completion of the purchase, the insider directly owned 3,848,573 shares of the company’s stock, valued at $46,875,619.14. This trade represents a 0.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aviva Mcpherron sold 3,670 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $9.38, for a total value of $34,424.60. Following the sale, the insider directly owned 66,330 shares of the company’s stock, valued at approximately $622,175.40. This represents a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders purchased a total of 189,896 shares of company stock valued at $2,293,970 over the last 90 days. Insiders own 2.70% of the company’s stock.

Institutional Trading of Orthofix Medical

Several hedge funds have recently made changes to their positions in the company. Engine Capital Management LP boosted its holdings in shares of Orthofix Medical by 3.2% in 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 acquiring an additional 137,858 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Orthofix Medical by 109.7% during the first quarter. Quantinno Capital Management LP now owns 37,494 shares of the medical device company’s stock worth $430,000 after purchasing an additional 19,610 shares in the last quarter. Renaissance Technologies LLC lifted its position in Orthofix Medical by 25.3% in the first quarter. Renaissance Technologies LLC now owns 101,991 shares of the medical device company’s stock valued at $1,170,000 after purchasing an additional 20,600 shares during the period. Gamco Investors INC. ET AL lifted its position in Orthofix Medical by 17.5% in the first quarter. Gamco Investors INC. ET AL now owns 201,800 shares of the medical device company’s stock valued at $2,315,000 after purchasing an additional 30,000 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Orthofix Medical by 960.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 33,393 shares of the medical device company’s stock valued at $383,000 after purchasing an additional 30,243 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.