Orthofix Medical (NASDAQ:OFIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

OFIX has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Orthofix Medical in a research report on Thursday, January 22nd. TD Cowen started coverage on shares of Orthofix Medical in a research report on Tuesday, January 27th. They set a “hold” rating and a $14.00 price target for the company. Canaccord Genuity Group decreased their price objective on shares of Orthofix Medical from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Barrington Research dropped their price objective on shares of Orthofix Medical from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.25.

Orthofix Medical Stock Performance

Shares of OFIX opened at $12.46 on Friday. The stock has a 50-day moving average of $13.79 and a two-hundred day moving average of $14.64. Orthofix Medical has a one year low of $10.24 and a one year high of $17.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.45. The stock has a market cap of $500.14 million, a P/E ratio of -5.32 and a beta of 0.75.

Orthofix Medical (NASDAQ:OFIX) last posted its quarterly earnings results on Tuesday, February 24th. The medical device company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.50). Orthofix Medical had a negative net margin of 11.21% and a negative return on equity of 20.38%. The firm had revenue of $219.91 million for the quarter, compared to analysts’ expectations of $218.72 million. As a group, research analysts predict that Orthofix Medical will post -2.81 EPS for the current year.

Insider Buying and Selling

In other Orthofix Medical news, CEO Massimo Calafiore sold 9,797 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $15.21, for a total value of $149,012.37. Following the completion of the transaction, the chief executive officer directly owned 217,237 shares of the company’s stock, valued at approximately $3,304,174.77. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Engine Capital Management, Lp acquired 13,061 shares of the stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $12.96 per share, for a total transaction of $169,270.56. Following the transaction, the insider owned 3,673,092 shares in the company, valued at approximately $47,603,272.32. This represents a 0.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 24,270 shares of company stock valued at $370,958 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Orthofix Medical

Institutional investors have recently made changes to their positions in the company. VARCOV Co. acquired a new position in shares of Orthofix Medical in the 4th quarter valued at $164,000. Juniper Investment Company LLC boosted its holdings in Orthofix Medical by 23.3% during the fourth quarter. Juniper Investment Company LLC now owns 3,510,333 shares of the medical device company’s stock worth $53,217,000 after buying an additional 663,278 shares in the last quarter. Engineers Gate Manager LP grew its position in Orthofix Medical by 92.6% during the fourth quarter. Engineers Gate Manager LP now owns 85,101 shares of the medical device company’s stock valued at $1,290,000 after buying an additional 40,923 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Orthofix Medical during the fourth quarter valued at $238,000. Finally, Armistice Capital LLC increased its holdings in Orthofix Medical by 18.4% in the fourth quarter. Armistice Capital LLC now owns 2,648,000 shares of the medical device company’s stock valued at $40,144,000 after buying an additional 412,000 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Orthofix Medical Company Profile

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.